SEC's Atkins Backs Clarity Act but Says Agency Will Keep Pushing Crypto Rules without It
Atkins said the SEC will keep pursuing custody and transfer-agent changes while Congress weighs a bill that could give crypto firms clearer rules.
- On Monday, Securities and Exchange Commission Chair Paul Atkins urged Congress to advance the Clarity Act, while confirming the agency will proceed with its own regulatory agenda regardless of the bill's outcome.
- The Senate is set to hold a procedural cloture vote on the Digital Asset Market Clarity Act on Tuesday, though the legislation faces a challenging path to clear the required 60-vote threshold.
- Atkins detailed his "Project Crypto" initiative to modernize securities regulation, while eight banking groups, including the American Bankers Association, pressed Senate leaders for tighter restrictions on stablecoin rewards to prevent deposit flight.
- Polymarket bettors priced the bill's chance of becoming law in 2026 at 17% by Monday, falling back from a surge to around 30% earlier in the day as uncertainty grew.
- Regardless of the bill's fate, Atkins has directed staff to develop proposals clarifying crypto custody for investment advisers and overhauling transfer agent rules, which have not been updated in roughly four decades.
15 Articles
15 Articles
Crypto Industry Points to SEC and CFTC After CLARITY Setback
Trade groups and executives responded to the Senate blocking the CLARITY Act by pointing at agency rulemaking, saying the SEC and the CFTC can keep writing crypto rules without the bill. Several framed the loss as one of permanence, since a future agency chair can rewrite a rule and repealing a
CLARITY Act Fails 49-50: Coinbase CEO Turns to SEC and CFTC
Coinbase CEO Brian Armstrong says the Securities and Exchange Commission and Commodity Futures Trading Commission can continue building clear U.S. cryptocurrency rules under their existing authority, after the Senate failed to advance the industry's flagship CLARITY Act. Armstrong made the comments following the September 15 procedural defeat of H.R. 3633, which received 49 votes in favor and 50 against, falling 11 votes short of the 60 needed t…
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