Crypto rules are ‘not a favor,’ says SEC, but CLARITY Act still waits

SEC Chairman Paul Atkins has defended the current administration's efforts to modernize digital asset regulations, framing the push for market clarity as a functional necessity rather than a regulatory favor. The SEC is actively working to facilitate the transition of markets on-chain while attempting to rebuild institutional trust following past regulatory friction. Despite these internal efforts, the agency faces significant operational pressure, managing approximately 200 ETF filings monthly, including complex products like prediction markets. The proposed CLARITY Act remains the primary legislative vehicle intended to codify oversight between the SEC and CFTC, yet it currently lacks a scheduled Senate floor vote. Legal experts note that without formal codification, SEC staff guidance remains vulnerable to court challenges, which has already stalled planned tokenization innovation exemptions. The urgency for legislative action is amplified by the implementation of the EU’s MiCA framework, which has intensified concerns that U.S. innovation is migrating to more favorable jurisdictions. Ultimately, the passage of the CLARITY Act is viewed as the critical step to provide the legal certainty required for sustained RWA and digital asset growth in the United States.