SEC Chairman Paul Atkins says the agency will keep working toward comprehensive crypto rules despite legislative setbacks. His statement follows the CLARITY Act's failure to reach the Senate and the departure of White House Crypto Council Executive Director Patrick Witt.
SEC Chairman Paul Atkins has reiterated the agency's commitment to a comprehensive crypto regulation regime, even after recent legislative challenges in Washington, D.C.
Atkins posted on X to commend Witt, who is leaving the White House Crypto Council. He said the SEC would carry the fight forward and deliver a "common-sense, comprehensive crypto market structure in the U.S."
CLARITY Act fails to reach the Senate
The statement comes as uncertainty grows around the Digital Asset Market Clarity Act. The bill aims to clarify regulatory jurisdiction between the SEC and the Commodity Futures Trading Commission.
However, the CLARITY Act failed to reach the Senate on September 15 because it could not clear the procedural barrier of at least 60 votes in the upper chamber. As a result, the debate has refocused on what federal regulators can do with their existing powers.
SEC acts within its current powers
Under Atkins, the agency has already been revising its approach to digital assets. In September, Atkins announced temporary regulatory relief to ease the trading of some tokenized stocks, though he stressed the need for more rulemaking to build a sustainable crypto regulatory structure.
Meanwhile, Witt's exit marks another change in leadership in the White House's digital assets policy team. Witt, who was instrumental in discussions around the CLARITY Act, left as his temporary White House assignment came to an end, following several other high-profile departures from the team.
Source: U.Today
Trading involves risk.
Risk Disclaimer
