SEC Crypto Push Won't Wait For CLARITY Act

Atkins Backs CLARITY Act Ahead of Key Senate Vote

SEC Chair Paul Atkins used a keynote address at the Solana Policy Institute Summit in Washington on September 14 to call on Congress to move quickly on crypto market structure legislation. "Congress should vote to advance the Clarity Act and send it to the president's desk as soon as possible," Atkins said during the event. The speech came just hours before a critical procedural test on Capitol Hill. The Senate is set to hold a cloture vote Tuesday afternoon on a motion to proceed to the Digital Asset Market Clarity Act, a procedural test of whether the sweeping crypto market structure legislation has enough support to advance.

Atkins has been a consistent backer of the bill. In July 2026, Atkins made his first on-record endorsement of the bill, pledging the SEC's technical assistance to Congress in refining its language. The path to passage, however, remains uncertain. Eight banking groups urged Senate leaders to tighten restrictions on stablecoin interest and rewards, while a coalition of 18 attorneys general warned that the current bill could weaken their ability to pursue crypto-related fraud.

Project Crypto: The SEC's Parallel Rulemaking Push

Legislation or not, Atkins made clear the SEC intends to press ahead. "To be clear, with or without that legislation, this administration will pursue policies for American investors and technology innovators," he said. Atkins used much of his speech to lay out the SEC's parallel regulatory push under "Project Crypto," highlighting three areas that he said would form the foundation for how digital assets are issued, transferred and held in the U.S.

The first pillar is the agency's proposed Regulation Crypto Assets. The proposed rules aim to bring greater clarity to when crypto assets fall within federal securities laws, reduce incentives for issuers to operate offshore, and expand investment opportunities for U.S. investors with stronger protections. The second covers tokenized securities. On January 28, 2026, SEC staff issued a statement setting forth a basic taxonomy of tokenized securities. The third pillar is custody. Atkins said he has asked SEC staff to develop a proposal that could allow investment advisers, under certain conditions, to self-custody crypto assets or use state trust companies as custodians.

Together, these efforts reflect a broader shift in the SEC's posture toward the crypto industry. The proposed rules are designed to align with the CLARITY Act's framework, so agency rulemaking and legislation are running in parallel. Whether the Senate advances the bill on Tuesday or not, the SEC has made clear it will not stand still.

Sources:
CoinDesk: SEC's Atkins backs Clarity Act but says agency will keep pushing crypto rules without it
SEC.gov: Remarks at the Solana Policy Institute Summit
SEC.gov: SEC Proposes New Regulation Crypto Assets