The SEC advances digital asset regulations after Congress delays the Clarity Act, signaling stricter oversight for crypto firms.
The SEC proposed its first permanent rule for the crypto industry on August 18, aiming to enforce stricter oversight. The move follows Congress’s failure to vote on the Clarity Act before recess, reducing its chances of passage in 2026.
President Donald Trump hosted executives from Coinbase Global, Ripple, and Robinhood Markets at the White House the following day. White House crypto advisor Patrick Witt warned regulators may use emergency powers if Congress does not act on the Clarity Act.
The SEC and CFTC have ramped up rulemaking since March, jointly classifying 18 crypto assets as digital commodities. While rules lack the force of law, firms are expected to comply to avoid regulatory backlash.