SEC Backs CLARITY Act Amid Push for Regulatory Clarity

The US Securities and Exchange Commission (SEC) is taking steps towards clarifying its stance on digital assets. SEC Chairman Paul Atkins has expressed his support for the swift passage of the Digital Asset Market Clarity Act, which aims to divide the roles between the SEC and CFTC.

Atkins highlighted the SEC's initiative 'Project Crypto', which aims to modernize digital asset regulation. He stated that both the SEC and CFTC are ready to implement the legislation as soon as Congress sends it to President Trump's desk.

The bill has strong bipartisan support in the Senate Banking Committee, with Treasury Secretary Scott Bessent calling for action on X. Bessent referred to the legislation as essential to onshoring the future of finance and future-proofing markets against 'rogue regulators.'