TLDR
- Atkins said the SEC can issue crypto market rules if Congress does not pass CLARITY.
- The SEC chair said a statute remains the preferred path for lasting digital asset certainty.
- Senate delays narrowed the CLARITY Act timeline before lawmakers leave for August recess this month.
- Unresolved ethics provisions tied to Trump’s crypto interests remain a key Senate hurdle for CLARITY.
- If CLARITY fails, crypto regulation may shift toward SEC, CFTC and GENIUS Act rulemaking next.
SEC Chair Paul Atkins said the agency is prepared to write crypto market structure rules if Congress fails to pass the CLARITY Act, while still calling legislation the preferred path for digital asset oversight.
Atkins said the SEC can address many crypto market issues through rulemaking authority. However, he argued that a statute would give regulators, companies, and investors stronger long-term certainty.
Atkins Says SEC Can Act Through Rulemaking
Atkins said the agency is helping lawmakers as they debate the CLARITY Act. The bill aims to create a wider U.S. framework for crypto market structure, including oversight roles and clearer rules for digital asset firms.
“We’re doing all we can to help them answer their questions and provide technical assistance. But ultimately, statute is the way to future-proof something,” Atkins said.
The SEC chair said the agency remains ready to act if Congress does not complete the bill. He said, “We are ready, willing and able to come out with rules that address the same issues in clarity and in other aspects of the crypto market.”
Atkins still said congressional action would give the industry clearer direction. He added, “But ultimately, we need the certainty of a statute that will help future proof so that we have clear direction.”
CLARITY Act Faces Senate Delay
The Senate has moved the digital asset market structure bill aside for now. Lawmakers are focusing on a Russia sanctions package and presidential nominees, reducing floor time before the August recess.
The delay narrows the window for crypto legislation in 2026. Supporters of the bill have pushed for action before lawmakers leave Washington, but the schedule remains tight.
Negotiations over government ethics provisions also remain unresolved. Those talks involve rules tied to President Donald Trump’s crypto interests, which have become a point of debate in the Senate process.
Even if Senate floor time opens, lawmakers still need to resolve those disputes before the bill can advance. The remaining issues could decide whether CLARITY moves before the recess.
Crypto Rulemaking Could Shift to SEC and CFTC
If Congress fails to pass the CLARITY Act, regulatory progress may move toward agency-led rulemaking. The SEC and CFTC could then play larger roles in shaping crypto market rules.
The GENIUS Act may also become a central part of the policy path. That law already provides a framework for payment stablecoins and could guide parts of the market while broader legislation remains stalled.
Atkins said the SEC prefers clear direction from Congress because laws can provide a stronger foundation than agency rules alone. Agency rules can still address specific issues, but future administrations may revise them.
The CLARITY Act debate now sits between two paths. Congress can pass a statute, or regulators can move ahead with rules covering similar crypto market structure issues.
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