CLARITY Act Stalls. Paul Atkins and Michael Selig Move Ahead With New Crypto Rules

The CLARITY Act was supposed to settle who regulates crypto in the United States. Instead, the Senate blocked it from moving forward — and regulators are no longer waiting.

SEC Chair Paul Atkins and CFTC Chair Michael Selig are now pushing ahead with new crypto rules using powers their agencies already have. The shift became obvious almost immediately after the Senate vote.

Atkins promised action “with or without legislation.” Selig said the CFTC was “locked in and ready to ship” its rules.

Within two days, the SEC had opened a new route for tokenized-stock trading, while a broad CFTC crypto-market rulemaking appeared in the White House regulatory review system. Related: Bitcoin Is Back Above $85,000. Why Is BTC Rallying Despite the Fed and CLARITY Act?