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first_img SEC Chairman expects the Clarity Act to pass this month, stating that the United States will become the crypto capital

Paul Atkins, the chairman of the U.S. Securities and Exchange Commission (SEC), stated that he expects the highly anticipated Clarity Act to pass in the Senate this month, and he mentioned that the U.S. is likely to become the "capital of crypto." In an interview with Fox Business, Atkins confirmed that the bill will be voted on in the Senate on September 15, and he anticipates that it will pass and ultimately be sent to the president for signing.Atkins stated that regulators are pushing for relevant rules to help the crypto industry develop, saying, "We are changing past practices to update rules to adapt to the era of blockchain and crypto assets." Last week, the SEC submitted a proposal to the White House aimed at clarifying the custody framework for crypto assets for investment advisors and companies.The Clarity Act aims to establish a regulatory framework that distinguishes whether digital assets are securities, commodities, or stablecoins. The bill passed in the House last year, but has been stalled for most of this year due to disagreements between banking lobbyists and crypto companies over issues such as whether platforms like Coinbase can pay clients returns. Some lawmakers attempted to modify the language regarding ethical standards in the bill, while a new bill has been circulating since July that prohibits government officials from promoting crypto assets and profiting from them. However, some Democratic lawmakers believe the relevant provisions are still inadequate, while several pro-crypto Republican lawmakers have accused Democrats of deliberately playing politics and delaying the bill's progress.

Chairman of the Solana Foundation: Capital, assets, and ownership are entering a token super cycle

Lily Liu, the chair of the Solana Foundation, stated that funds, assets, and ownership are migrating to an all-weather internet infrastructure, forming a long-term token supercycle.Tokenization is not only about moving assets onto the chain but also about changing the assets themselves, allowing value to be issued, held, financed, and traded in a market that never closes.She believes that stablecoins have proven that funds can flow onto the chain globally, financial institutions are pushing for asset tokenization, and blockchain infrastructure is beginning to meet the demands of real economic activities for speed and cost, while AI economic agents require programmable money.With these factors converging, any value with clear ownership could be tokenized and gain broader distribution, financing, and trading channels.In the past year, the trading volume of RWA on Solana reached hundreds of billions of dollars, covering tokenized U.S. Treasury bonds, stocks, and private credit; during the same period, stablecoin transfer volume exceeded $4.7 trillion.Liu stated that tokenization can also allow more investors to break through geographic, minimum investment, and qualification restrictions, and enable the assets held to be used for collateral or to generate returns. Although the current on-chain market size is still far below that of traditional markets, the relevant infrastructure could potentially reach 5.5 billion internet users globally in the future.

Former Vice Chairman of the Federal Reserve: The default choice now is to raise interest rates, and Waller's speech reverses the previous logic of the Federal Reserve

Nick Timiraos, the "Fed Whisperer," stated that Fed Chair Waller has quelled some concerns about his strategy to combat inflation, but has also laid the groundwork for a larger test that may come in three weeks. If the Fed raises interest rates, it could anger the White House just weeks before the midterm elections. If they hold steady, it may reignite the doubts that Waller's remarks have calmed.Two points from Waller's speech on Friday particularly suggest that the Fed may raise rates next month. The first point is that Waller finds it difficult to describe the current financial conditions as restrictive. The second point is that the relatively positive inflation data over the summer has not convinced him that the underlying trend is improving. The Fed's default choice before Friday was to hold steady unless the data was strong enough to warrant action.Former Fed Vice Chair Cohen stated that Waller's remarks have reversed this logic. "He has changed the original assumption; it is now that they will raise rates unless the data shows it is unnecessary." This means that the final decision will depend on changes in the situation before the September meeting, especially the August CPI released on September 11. Cohen stated that if the data indicates that action is unnecessary, the Fed should not raise rates; if the data is strong, it could weaken the argument that inflation is moving back toward the Fed's 2% target.

first_img Analysis: Federal Reserve Chairman Waller downplays the decline in inflation, Bitcoin falls below $80,000

According to Cointelegraph, Bitcoin failed to effectively break through the $80,000 mark, with BTC/USD dropping to $78,442 on the Bitstamp platform, a decline of about 1% for the day, after Federal Reserve Chairman Kevin Walsh delivered a cautiously toned speech in Jackson Hole. In his speech, Walsh reaffirmed the Fed's commitment to the 2% inflation target and downplayed the significance of the recent decline in CPI and PCE data.Walsh stated that although these broad inflation indicators have significantly retreated from their highs a few years ago, the progress over the past two years has been relatively modest. The better-than-expected PCE and CPI readings this summer do not indicate that the underlying trend has materially improved. He also noted that the forward guidance, a conventional practice introduced during the financial crisis, "is now outdated" and will not return in the future. U.S. stocks were not weighed down by his remarks, with the S&P 500 and Nasdaq indices both rising by about 0.5%.On-chain data shows that there is a dense resistance zone between the current spot price and $86,000, which suppresses upward momentum. QCP Capital analysis pointed out that even if the price breaks through, the derivatives market needs to support it by controlling funding rates and the growth rate of open interest. The key is whether the subsequent market movement is driven by spot participation or leveraged positions. As of the time of writing, BTC/USD has risen 26.35% this month, marking the best August performance since 2017.

The chairman of the U.S. SEC plans to restructure the securities regulatory tracking system CAT and explore the possibility of the SEC taking over and reforming the funding mechanism

Chairman Paul S. Atkins of the U.S. Securities and Exchange Commission (SEC) wrote to Robert Walley, Chairman of the Consolidated Audit Trail (CAT) Operating Committee, indicating that the SEC plans to undertake a comprehensive reform of the CAT system, including adjustments to its governance structure, funding sources, and operational model.Atkins stated that during his tenure, the SEC has significantly reduced the annual operating costs of CAT by issuing exemptions and approving amendments to the CAT NMS plan, and has eliminated the requirement to report personally identifiable information (PII) to the CAT system.These reforms have lowered system costs and the scope of data collection, but CAT still faces fundamental issues regarding costs, governance, and funding mechanisms. To address these issues, the SEC released a concept request for comments on April 16, 2026, to conduct a comprehensive review of CAT and other audit trail systems and data sources used in the regulation of U.S. securities markets.The SEC indicated that it has received hundreds of feedback comments, with one core consensus being that investors and market participants want the SEC to take more responsibility for the management and funding arrangements of CAT.Atkins stated that he has asked SEC staff to propose deep reforms for CAT, including: 1. Exploring new funding sources for CAT, including the use of congressional appropriations and transaction fees under Section 31 of the Securities Exchange Act; 2. Drafting rule proposals that, if approved, would repeal Rule 613 and require exchanges, FINRA, and broker-dealers to continue using the existing CAT infrastructure and reporting standards to submit CAT data directly to the SEC or its designated agency; 3. Assessing the internal resource needs of the SEC to prepare for the SEC's future assumption of governance responsibilities for CAT.The SEC expects that this reform will involve multiple stages and will need to be advanced simultaneously, with the overall transition potentially lasting until the end of 2027.
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