SEC Chair Paul Atkins expects the Senate to take up the CLARITY Act on Sept. 15, putting a key test of US crypto legislation before lawmakers.
Atkins wants the bill to advance quickly and eventually reach President Donald Trump’s desk. He also said the SEC is developing a framework that could work alongside the legislation.
The agency has proposed exemptions for certain crypto fundraising activities and is seeking public feedback. Atkins has said legislation remains important for creating lasting rules for the industry.
Atkins Sees a Need for Legislation
Atkins warned that the SEC could rely on existing securities laws if Congress fails to pass new crypto legislation. He also wants Congress to establish a legal foundation that future SEC leaders would find harder to reverse.
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“Our goal is to get them adopted, to get them taken up by the industry,” Atkins said, adding that the rules need “statutory grounding.”
Industry Remains Divided
Industry views remain mixed. SALT CEO John Darsie has expressed pessimism about the CLARITY Act passing before the midterm elections, while Circle President Heath Tarbert has urged Congress to advance it.
Kalshi’s prediction market currently gave the bill a 50% chance of passing in 2026. Coinbase CEO Brian Armstrong has also renewed his support for the bill ahead of the expected Senate consideration.
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