The US Securities and Exchange Commission plans to consider crypto rules as Congress struggles with market structure legislation. The SEC scheduled an open meeting Friday to discuss a tailored framework for crypto investment contracts.
Senate lawmakers recently failed to advance the CLARITY Act. The bill aims to establish responsibilities for regulators overseeing cryptocurrencies. However, the setback leaves the SEC under pressure to address regulatory gaps.
SEC Eyes Tailored Crypto Rules
Chair Paul Atkins previously indicated that the agency could develop digital asset rules if lawmakers stalled CLARITY. Hence, Friday’s meeting could signal a more active regulatory approach.
Additionally, the commission must determine how securities laws can support new crypto rules. That question could limit measures without congressional approval.
CLARITY Bill Faces Fresh Hurdles
Meanwhile, Senate Majority Leader John Thune filed a cloture motion for the bill’s return September 14. Consequently, CLARITY has a path forward, although lawmakers face hurdles.
The legislation must clear the Senate, return through the House, and reach President Donald Trump. Moreover, scrutiny surrounding Trump’s crypto interests could complicate negotiations.
Related: Russia Opens Cross-Border Crypto Trading but Restricts Local Use: Why?
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