SEC Chair Atkins Says He Hopes CLARITY Act Advances in September 15 Senate Vote

SEC Chair Paul Atkins expects the Senate to advance the CLARITY Act this month, setting up a key test for a crypto market structure bill that has faced repeated delays. Atkins said he hopes lawmakers can move the legislation forward within two weeks and eventually send it to President Donald Trump for his signature.

The Senate is scheduled to hold a cloture vote on September 15, a procedural step that could end debate and clear the path toward a final vote. However, doubts remain over whether Congress can complete the legislation this year as lawmakers approach the midterm election period.

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SEC Chair Atkins Backs CLARITY Act as SEC Moves Ahead

SEC Atkins said the SEC is preparing its regulatory approach to work alongside the CLARITY Act. The agency’s proposal includes exemptions covering fundraising and other activities, while public comments are currently being collected.

The SEC chair also said the regulator could act under existing securities laws if Congress fails to pass the bill. However, he argued that legislation would provide a more durable foundation that future SEC leadership could not easily reverse.

“Our goal is to get them adopted, to get them taken up by the industry,” Atkins said. He added that “what we really do need though is statutory grounding” to make the framework sustainable over time.

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Doubts Grow Over Whether CLARITY Act Can Pass This Year

Despite Atkins’ expectations, some industry figures remain cautious about the bill’s chances. SALT CEO John Darsie said, “Personally, I’m somewhat bearish on the CLARITY Act passing,” citing the political calendar ahead of the midterm elections.

Prediction markets also reflect uncertainty. Kalshi placed the probability of the CLARITY Act becoming law this year at 49%, leaving expectations almost evenly divided.

The legislation previously cleared the House and later advanced through the Senate Banking Committee. However, an earlier effort to bring it to the full Senate floor stalled, pushing attention toward the September 15 vote.

CLARITY Act Would Divide SEC and CFTC Oversight

The CLARITY Act seeks to define how the SEC and Commodity Futures Trading Commission oversee digital assets. The bill also establishes registration rules for crypto businesses and anti-money laundering requirements.

Several issues remain part of the debate, including whether stablecoin holders should earn interest and how ethics rules should address potential conflicts involving public officials with digital asset interests.

Meanwhile, the SEC is moving forward with other crypto-related changes. Atkins has said a tokenization innovation exemption could arrive within weeks, while the agency has also proposed modernizing transfer-agent rules to account for blockchain-based securities and share transfers.