Key highlights:

  • The CLARITY Act will pass the US Senate in September, says Paul Atkins
  • September is set to be an important month for the broader crypto and blockchain industry
  • Atkins says that the SEC’s latest crypto regulatory move aligns with expectations of the crypto bill's passage

SEC Chair Paul Atkins remains optimistic about the passage of the much-awaited CLARITY Act this month. He believes that the US Senate will vote on the crypto bill on September 15. This could potentially push the bill closer to the president’s desk for final approval.

Senate to pass CLARITY Act in September, Says Paul Atkins

The market structure bill is reportedly getting closer to its final passage. According to SEC Chair Paul Atkins, the CLARITY Act is poised to pass the Senate this month, with a possible vote expected on September 15. Atkins stated,

“The Clarity Act will be voted on in the Senate on the 15th of September. I anticipate and hope that it will be passed by the Senate and sent ultimately to the President’s desk for a signature.”

The crypto community has been largely waiting for the passage of the CLARITY Act. As the crypto bill faced multiple delays in the US Senate, there had been growing concerns about further setbacks and uncertainty surrounding crypto regulation. As CoinCodex noted, these concerns were addressed by the SEC, which proposed a regulatory framework focusing on crypto investment contracts. Now, the SEC Chair’s latest statement has renewed hopes about clearer regulatory development in the US that will potentially shape the industry’s future.

SEC Chair Paul Atkins remains optimistic that the long-awaited CLARITY Act could finally pass this month. He expects the U.S. Senate to vote on the crypto bill on September 15. If approved, the legislation could move one step closer to the President’s desk for final approval.

Why September could be important for the blockchain space?

Interestingly, September could be an important month for the broader blockchain and crypto industry. Besides the possible CLARITY Act approval, other regulatory developments are also taking place behind the scenes.

A major development expected this month is the SEC’s roundtable on September 17. As CoinCodex reported, the regulator has invited major Wall Street players, including Citi, BlackRock, Nasdaq, Charles Schwab, Jane Street, and the New York Stock Exchange (NYSE), to attend the meeting. They will discuss the possibilities of bringing traditional stocks onchain, with 24/7 trading. If the SEC decides to move forward with longer trading hours, it could mark a significant transformation for the TradFi sector.

Atkins sees SEC’s crypto proposal as a major step forward

The SEC Chair stated that the regulator’s recent regulatory proposal aligns with the expectations of the CLARITY Act passage. According to him, the proposal is one of the biggest steps in the SEC’s history of crypto regulation. Acknowledging the move as the “most historic step,” he added,

“I think this is an important step to try to reshore, to bring back to the United States innovators that we have over the past administration’s four-year term chased offshore.”

Further, Atkins stated that the regulatory move could encourage crypto companies and developers that moved overseas recently to bring their businesses back to the country. This could bring more capital to the US, create new jobs, and strengthen the country’s position in the global crypto industry.