SEC's Atkins Expects Clarity Act to Clear Senate Hurdle in September

SEC Chairman Paul Atkins expects the CLARITY Act to move forward in the Senate this month. The bill, which aims to create a federal framework for digital assets, would split regulatory duties between the SEC and the Commodity Futures Trading Commission.

The Senate is set to hold a procedural cloture vote on September 15, which needs 60 votes to pass. Atkins hopes the bill will eventually reach President Donald Trump's desk for a signature.

Stablecoin rewards and ethics provisions remain the two biggest sticking points in negotiations. Banking groups want tighter rules to stop platforms like Coinbase from offering rewards tied to stablecoin balances, while crypto companies say they should be allowed to share revenue with users who hold stablecoins.