SEC Chairman Paul Atkins stated that the newly proposed regulatory framework for cryptocurrencies will complement the CLARITY Act, which is set to proceed to a Senate vote. This statement, made ahead of the September 15 vote, has once again brought U.S. cryptocurrency legislation and regulatory direction into the spotlight.
The SEC says legislation is more sustainable.
Atkins said that the SEC’s current approach is not to replace congressional legislation, but rather to initiate a public comment period in preparation for the eventual formal rulemaking. If the bill ultimately passes Congress and is signed by the president, the SEC can move more quickly to implement accompanying rules.
He also stated that even if Congress fails to advance relevant legislation, the SEC still believes it has some rulemaking authority under the existing legal framework and can unilaterally push for regulatory measures. However, he emphasized that this approach is less stable than legislation.
According to him, if reliance is placed solely on the regulatory agency’s own authority, the relevant rules could still be modified or rescinded after a future change in leadership; whereas laws passed by Congress are more enduring. Atkins also noted that, over the past few years, many cryptocurrency innovations and fundraising activities have shifted outside the United States, and the U.S. aims to keep such activities within its own legal framework.
Bitcoin has pulled back to around $77,000.
As regulatory expectations intensify, major crypto assets have pulled back after their previous rally. Bitcoin, which recently rose above $80,000 from above $63,000, has retreated to around $77,000, declining approximately 1.3% on the day. The report notes that selling pressure in the global bond market has weighed on risk assets.
The market is also monitoring changes in volatility. Analysts note that Bitcoin’s 4-hour Bollinger Bands have narrowed after a rapid rally, indicating a noticeable cooldown in short-term price fluctuations. The market continues to focus on the resistance level around $79,500.
XRP ETF inflows remain under close watch
Beyond price volatility, institutional interest in XRP remains a key market focus. Reports indicate that the U.S. spot XRP ETF attracted approximately $105 million in net inflows during the week of August 24, equivalent to about 73.2 million XRP, suggesting that demand has not significantly weakened despite short-term price corrections.
Regarding Ethereum, market sentiment remains cautious. Some analysts suggest that after its earlier rally, ETH may first retrace to the $2,100–$2,220 range before finding support; others believe that if buying pressure emerges early, the price could briefly rebound at a higher level.
Overall, before the September 15 vote on the CLARITY Act, U.S. regulatory signals and market movements did not align in a single direction. While the SEC signaled its willingness to advance regulations, mainstream assets entered a consolidation phase, and anticipated short-term pullbacks in XRP ETF flows alongside BTC and ETH kept market sentiment divided.