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SEC Chair expects Clarity Act vote on September 15
The bill would set a framework to distinguish between digital assets that are securities, commodities, or stablecoins.
Bitcoin Magazine reports that Securities and Exchange Commission Chair Paul Atkins expects the long-awaited Clarity Act to clear the Senate this month. Speaking on Fox Business, Atkins said he anticipates the Senate vote will take place on September 15 and that the bill could be sent to the President for signature if it passes.
The report says the bill would establish a framework for distinguishing between digital assets that are securities, commodities, or stablecoins. Pro-crypto lawmakers had aimed to pass it before Congress broke for August recess, but the vote slipped to September.
Bitcoin Magazine adds that regulators plan to continue shaping crypto policy even after the delay. It notes that the SEC sent a proposal to the White House last week to clarify the custody framework for crypto assets for investment advisers and companies.
The article also describes broader political and industry disputes that have contributed to the bill’s stalled progress, including disagreements over whether platforms like Coinbase should be able to pay customers yield. It also references a draft proposal circulating in July that would ban government officials from promoting and profiting from crypto, while some Democrats argued the change is not sufficient.
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