SEC Weighs In on Crypto Regulation Amid Clarity Act Gridlock
The US Securities and Exchange Commission (SEC) is set to hold an open meeting on Friday to consider proposing new rules for cryptocurrency offerings.
The move comes after the Senate's failure to advance the CLARITY Act before its August break, which raises doubts about whether the landmark crypto bill can become law this year.
The CLARITY Act aims to provide clearer and longer-term direction for digital asset regulation. However, Senate Republicans plan to test the legislation with a September 15 cloture vote, but disagreements over ethics restrictions, stablecoin rewards, and enforcement powers remain unresolved.
If Congress fails to advance the bill, SEC Chair Paul Atkins has stated that the agency can address many of the key market structure issues through rulemaking. In a July interview, he emphasized that congressional legislation would provide clearer direction for digital asset regulation.