Securities and Exchange Commission (SEC) Chair Paul S. Atkins on Thursday used social media to press Congress to approve the long‑awaited CLARITY Act, the bill intended to create a formal market‑structure framework for crypto in the United States.
Atkins Urges Congress To Pass CLARITY Act“At project Crypto is designed so once Congress acts, @SECGov & @CFTC are ready to implement the CLARITY Act,” Atkins wrote, adding that “It’s time for Congress to future‑proof against rogue regulators & advance comprehensive market structure legislation to President Trump’s desk.”
His remarks came a day after Bessent published an op‑ed in the Wall Street Journal warning that the United States risks losing its leadership in financial innovation if lawmakers fail to pass the bill.
Atkins’ appeal references Project Crypto, the coordinated SEC–CFTC effort to create a unified approach to token classification and to streamline how on‑chain trading, custody, and settlement are treated under federal law.
The push for the CLARITY Act, however, is occurring amid stalled negotiations and a high‑stakes dispute between the banking and crypto industries over a provision of the already passed GENIUS Act, the country’s stablecoin legislation.
Banks Vs. CryptoBanks argue the rule left a gap that third parties could exploit by offering rewards to stablecoin holders and have demanded that the market‑structure bill close that loophole. The crypto sector counters that the ability to provide rewards is crucial for stablecoins to compete effectively as payment instruments.
Featured image from OpenArt, chart from TradingView.com
