The SEC is ready to introduce its own rules covering key crypto market structure issues if Congress fails to pass the CLARITY Act, Chair Paul Atkins said in an interview with CNBC.
Atkins said the agency could address many of the same regulatory issues through its own rulemaking authority, though he expressed confidence that the legislation would clear Congress and stressed that congressional action remains the preferred path.
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He argued that the legislation would provide lasting regulatory certainty, future-proof the framework governing digital assets and give the SEC clear direction for overseeing the crypto market.
“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 emphasized. “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.”
“But ultimately, we need the certainty of a statute that will help future proof so that we have clear direction and to go for,” he added.
In a new turn of events, the Senate has sidelined the digital market structure legislation for now while it focuses on advancing a Russia sanctions package and presidential nominees, reducing the time available to consider crypto legislation before lawmakers leave for their August recess.
Even if floor time becomes available, negotiations over government ethics provisions tied to President Donald Trump’s crypto interests remain unresolved.
The compressed legislative schedule threatens the industry’s efforts to secure the comprehensive CLARITY Act in 2026. If Congress fails to pass the bill, regulatory progress would likely shift toward implementation of the GENIUS Act and rulemaking by the SEC and the CFTC.