SEC Chairman: If the "Clarity Act" is not passed, the SEC will establish its own cryptocurrency rules

According to Decrypt, SEC Chairman Paul Atkins stated that if Congress fails to pass the Clear Act, the SEC is "ready at any time" to establish its own cryptocurrency market rules. Atkins emphasized that legislation is the only way to prevent the regulatory framework from changing with each new administration and expressed optimism about the bill's eventual passage.

Currently, the Clear Act passed the House of Representatives last July with a vote of 294-134 and was approved by the Senate Banking Committee this May with a vote of 15-9, but it has not yet been voted on by the full Senate (which requires 60 votes to pass). Senate Majority Leader Chuck Schumer recently hinted that the bill may not be completed before the August recess. If passed, the bill would transfer the regulatory authority over the spot market for most tokens to the CFTC, removing it from SEC jurisdiction. The SEC has already made preparations, and the "Project Crypto" regulatory framework promoted by Atkins has been included in the 2026 agenda, covering aspects such as token registration exemptions, safe harbors, and broker custody, and is seen as a transitional plan for the Clear Act.