Atkins: SEC Has Crypto Rulemaking Plan if Clarity Act Stalls

Paul Atkins, chairman of the U.S. Securities and Exchange Commission (SEC), expressed confidence that lawmakers would approve the Clarity Act, adding that the agency is assisting Congress as it considers legislation to create a regulatory framework for the U.S. crypto market.

During a CNBC appearance, Atkins said the SEC is assisting the legislative process by responding to congressional questions and providing technical guidance on the proposed bill.

Atkins said the SEC is prepared to move forward with its own rulemaking if Congress does not enact the legislation, adding that the agency is ready and able to issue rules addressing matters covered by the Clarity Act as well as other areas of the cryptocurrency market.

Even so, Atkins said SEC rulemaking would not provide the same durability as legislation enacted by Congress. He said the crypto industry ultimately requires a statutory framework to provide durable regulatory certainty for the U.S. digital asset market.

Source: CNBC