SEC Chair Paul Atkins says he is optimistic Congress will pass the CLARITY Act and that his agency is providing technical assistance to lawmakers. The crypto market structure bill has already cleared the House, but the Senate set it aside on July 28 to handle other business, leaving days before the August 8 recess.
Paul Atkins, chair of the U.S. Securities and Exchange Commission, has reiterated his support for the CLARITY Act, saying the agency is committed to helping Congress advance legislation designed to establish a clearer framework for U.S. crypto markets. On July 28, he set out that support in an X post, committing to provide technical assistance and adding that American leadership in digital finance requires a regulatory system that matches the pace of innovation.
Atkins says the SEC can write rules if Congress does not
Speaking to CNBC on July 27, Atkins described the bill’s potential to build a durable regulatory foundation and said the agency is prepared to develop related rules if congressional action does not move forward. He framed a statute as the way to future-proof the framework.
In that interview Atkins said he is “optimistic that Congress will pass the CLARITY Act”, adding that the SEC is answering lawmakers’ questions and providing technical assistance. For investors and businesses, the act could define digital asset classifications and regulatory responsibilities across the market.
The Senate calendar is now the obstacle
The bill passed the House in July 2025 by 294 votes to 134 and has sat with the Senate since. But senators put the CLARITY Act on hold on July 28 to process 74 Trump federal nominations and advance the Lindsey O. Graham Sanctioning Russia Act of 2026.
That makes a floor vote unlikely before next week, narrowing the window to days before the August 8 recess. Senate Majority Leader John Thune had signaled willingness to force a vote even without the 60 votes needed to overcome a filibuster.
Backers press, opponents push back
Florida Congressman Mike Haridopolos, a House Financial Services Committee member, reaffirmed his support on Fox Business, warning that Democratic delays risk handing America’s digital asset leadership to overseas markets. The bill would draw clear jurisdictional lines between the SEC and the CFTC for digital assets.
Charles Schwab has formally backed the act alongside Coinbase, Ripple, BlackRock, Fidelity, Goldman Sachs and the Digital Chamber. New York Attorney General Letitia James, however, warned Congress the bill would weaken state-level enforcement against crypto fraud.
Passage would reduce the regulatory uncertainty that has weighed on institutional flows, ETF activity and corporate adoption, CoinGape reported. Further delay risks pushing the legislation into 2027.
Sources: Bitcoin News, CoinGape
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