According to Decrypt, SEC Chair Paul Atkins stated that if Congress fails to pass the CLEAR Act, the SEC is prepared to establish its own regulations for the cryptocurrency market. The CLEAR Act passed the House of Representatives in July last year by a vote of 294–134 and was approved by the Senate Banking Committee in May this year by a vote of 15–9, but it has not yet undergone the full Senate vote, which requires 60 votes. Senate Majority Leader Thune has suggested the bill is unlikely to be voted on before the August recess. If passed, the bill would transfer regulatory authority over most spot token markets to the CFTC. The SEC has included its Project Crypto regulatory framework on its 2026 agenda.
SEC Chair Paul Atkins Warns of Self-Regulation if the Clarity Act Fails
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Summary
SEC Chair Paul Atkins warned that the agency will move forward with self-regulation if the Clarity Act fails to pass. The bill, which passed the House in July 2025 and the Senate Banking Committee in May 2026, is facing delays in the full Senate. Senate Majority Leader Thune said no vote is likely before August. If enacted, the bill would transfer primary oversight of token markets to the CFTC. The SEC has outlined its Project Crypto initiative in its 2026 agenda, as global frameworks like MiCA gain momentum.
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