SEC's Atkins Expects CLARITY Act Vote This Month Amid Crypto Market Structure Uncertainty
SEC Chairman Paul Atkins expects the Digital Asset Market Clarity Act to move forward in September as the Senate prepares to vote on another crypto market-structure bill. The measure, known as the CLARITY Act, would establish a federal framework for regulating digital assets and draw clear lines of jurisdiction over digital assets between the SEC and CFTC.
The Senate is set to hold a cloture vote on September 15, which requires 60 votes and would determine whether the Senate will consider the bill in full session. If the cloture vote passes, the bill would proceed to final Senate consideration but still need to be reconciled with the House bill.
The CLARITY Act has been a contentious issue, with talks stalling ahead of the August recess over stablecoin rewards, ethics rules, and financial-crime safeguards. Democrats have pushed for tighter rules on officials trading digital assets and profiting from crypto-assets, while Republicans argued that the demands kept shifting throughout negotiations.