SEC's Atkins Backs CLARITY Act, Says Crypto Reform Will Proceed Even Without It

Paul Atkins, chair of the U.S. Securities and Exchange Commission, said he supports congressional passage of the CLARITY Act but will continue pursuing digital-asset regulatory reform regardless of whether the bill passes.

Atkins made the remarks at a Solana Policy Institute event in Washington, CoinDesk reported on September 14. He said Congress should vote to advance the CLARITY Act and send it to the president as quickly as possible.

He also made clear that congressional legislation is not a precondition for the SEC's policy push. "To be clear, with or without that legislation, this administration will pursue policies for American investors and technology innovators," he said.

The SEC is currently overhauling its digital-asset regulatory framework under Project Crypto. Atkins said the agency is pursuing three core tasks to build a regime covering the issuance, transfer and custody of digital assets.

First, the SEC is advancing Regulation Crypto Assets to reduce regulatory uncertainty around fundraising in the U.S. using digital assets. It also plans to update transfer-agent rules that are about 40 years old so blockchain can be used as a digital ownership ledger.

The SEC is also seeking to revise digital-asset custody rules. It is reviewing whether to allow investment advisers to hold digital assets directly if they meet certain conditions, or to use state trust companies as custodians.

Atkins described those efforts as the "three pillars" of a digital-asset regulatory framework. "The SEC must not be the agency that is last to recognize that the world has actually changed," he said.

Separately, the U.S. Senate is scheduled to hold a procedural vote on September 15 on whether to begin formal consideration of the CLARITY Act.