The CLARITY Act faces an increasingly difficult path after the Senate failed to vote on the crypto market structure bill before its five-week recess.
The US Securities and Exchange Commission will hold an open meeting Friday to consider proposing new rules that would establish a tailored offering regime for certain investment contracts involving crypto assets. The meeting is scheduled for 10 a.m. ET.
The move follows the Senate’s failure to advance the CLARITY Act before its August break, which raises doubts about whether the landmark crypto bill can become law this year.
Senate Republicans plan to test the legislation with a Sept. 15 cloture vote, but disagreements over ethics restrictions, stablecoin rewards and enforcement powers remain unresolved.
SEC Chair Paul Atkins is keeping rulemaking as a fallback if Congress fails to advance the CLARITY Act. In a July interview, he said the SEC could address many of the bill’s key market structure issues, but stressed that congressional legislation would provide clearer, longer-term direction for digital asset regulation.
