SEC Chair signals agency will act on crypto rules if Congress does not pass the CLARITY Act by year-end.
The SEC is poised to implement crypto market regulations under its existing authority if Congress fails to advance the CLARITY Act. SEC Chair Paul Atkins indicated the agency would move forward to provide clarity, though legislation would offer a more stable framework.
The CLARITY Act cleared the Senate Banking Committee with a 15-9 vote on May 14 but has not progressed to a full Senate vote. The bill aims to establish a regulatory structure less susceptible to shifts between administrations.
No immediate market reaction was reported following the statement.