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SEC Chair Paul Atkins Signals Agency Ready to Draft Crypto Rules if CLARITY Act Stalls

institutional · 2026-07-31

Paul Atkins, the Chair of the SEC, declared that the U.S. Securities and Exchange Commission will create its own regulatory framework for cryptocurrency if the Digital Asset Market Clarity (CLARITY) Act does not receive Congressional approval. He emphasized that the agency is "ready, willing, and able" to establish rules akin to those in the bill, which was approved by the House in July 2025 with a vote of 294-134 and moved through the Senate Banking Committee in May 2026 (15-9). Although the bill requires 60 votes in the Senate, support has dwindled due to concerns from Democrats. Senate Majority Leader John Thune suggested that a vote on the floor is improbable before the August recess. The SEC has also launched Project Crypto, targeting a Regulation Crypto agenda for 2026.

Key facts

  • SEC Chair Paul Atkins says the agency is 'ready, willing, and able' to issue crypto rules if the CLARITY Act stalls.
  • The CLARITY Act passed the House in July 2025 by 294-134 and the Senate Banking Committee in May 2026 by 15-9.
  • The bill requires 60 votes in the full Senate to overcome procedural hurdles.
  • Senate Majority Leader John Thune indicated the bill is unlikely to get a floor vote before the August recess.
  • The CLARITY Act would give the CFTC exclusive jurisdiction over spot markets for digital commodities.
  • The SEC's Project Crypto includes Regulation Crypto agenda for 2026 with proposals on registration exemptions, safe harbor, custody, and trading venues.
  • The SEC and CFTC jointly introduced a framework categorizing digital assets into digital commodities, digital collectibles, digital tools, payment stablecoins, and digital securities.
  • Atkins described SEC rulemaking as a 'bridge' toward comprehensive legislation, not a permanent substitute.

Entities

Institutions

  • U.S. Securities and Exchange Commission (SEC)
  • Commodity Futures Trading Commission (CFTC)
  • CNBC
  • U.S. House of Representatives
  • Senate Banking Committee
  • U.S. Senate
  • NFT Plazas

Locations

  • United States
  • Washington, D.C.

Sources