SEC and CFTC to Write Crypto Rules After Clarity Act Stalls
The SEC and CFTC chairs said Wednesday they will proceed with writing cryptocurrency rules independently after the Senate blocked the Clarity Act. Both agencies posted statements on X within two hours, signaling readiness to regulate crypto under existing statutory authority.
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Regulators Move Forward Without Legislative Framework
SEC Chair Paul Atkins and CFTC Chair Michael Selig said Wednesday they will advance crypto rules through agency action after Senate opposition derailed the Clarity Act, a proposed bill intended to clarify regulatory jurisdiction over digital assets. Selig said the CFTC is "locked in and ready to ship its rules for the new frontier of finance," while Atkins pledged the SEC will "act decisively within the SEC's statutory authority." Both posted their statements to X within two hours of each other the day after the Senate vote.
Coordination with the Administration
Selig indicated the CFTC will coordinate with President Trump's administration as it develops its framework. The agency chairs' statements suggest a two-regulator approach to crypto oversight rather than a reliance on Congress to draw clearer jurisdictional lines between commodities (CFTC jurisdiction) and securities (SEC jurisdiction), a distinction that has remained ambiguous in enforcement actions over the past five years.
Why It Matters
For Traders
Regulatory uncertainty persists; parallel rulewriting by two agencies may create compliance gaps or conflicting guidance that affects trading venues and token listings.
For Investors
Agency-led rules bypass Congress but may be narrower or more enforceable than legislative compromise; the framework will materially shape which assets are treated as securities versus commodities.
For Builders
Projects must prepare for two separate compliance regimes; clarity on commodities versus securities classification remains the foundational question for protocol and application design.
This article is for information only and is not financial advice. Read the full disclaimer.
