"Statute is the way to future-proof something," Atkins said, adding that the market needs "the certainty of a statute" so the framework does not shift with each administration. He said he remains optimistic Congress will pass the bill and that the SEC is providing technical assistance, a case he pressed again on Tuesday in a post on X saying he is "committed to supporting Congress in advancing" it.
Where the bill standsThe Clarity Act passed the House 294-134 in July last year and cleared the Senate Banking Committee 15-9 in May, with nine Democrats against. It has not reached a floor vote, where it would need 60 votes, and the Senate breaks for recess in August. The bill would hand the CFTC exclusive jurisdiction over spot markets in digital commodities, moving most tokens outside the SEC's reach.
The fallbackThe limits of that route are the point he is making. The SEC and CFTC's March guidance classifying 16 tokens as digital commodities, Bitcoin and Ethereum among them, is administrative, and can be withdrawn by a future administration without a vote in Congress.
