SEC Has a Plan for Crypto

The SEC is prepared to regulate key areas of the cryptocurrency market on its own if Congress fails to pass the CLARITY Act. In an interview with CNBC, SEC Chair Paul Atkins said the agency could use its existing authority to introduce rules covering many of the issues addressed by the bill.

Atkins still believes the legislation will make it through Congress. In his view, this would be the best outcome, as it would provide the market with long-term certainty and clearly define the SEC’s role in overseeing digital assets. The Commission is currently assisting lawmakers by answering questions and providing technical support.

However, progress on the bill has slowed in the Senate, which is now focused on a package of sanctions against Russia and presidential nominations. As a result, lawmakers have increasingly little time to address cryptocurrency regulation before the August recess.

There is also still no agreement on provisions concerning ethical standards linked to President Donald Trump’s interests in the cryptocurrency market.

The packed legislative calendar is reducing the industry’s chances of seeing the comprehensive CLARITY Act passed in 2026. If Congress fails to approve the bill, further regulatory changes will likely focus on implementing the GENIUS Act and introducing rules developed by the SEC and the CFTC.