Paul Atkins, chairman of the SEC, is urging the US Senate to pass the CLARITY Act, the bill designed to split cryptocurrency oversight between the SEC and the CFTC. The House of Representatives passed H.R. 3633 by 294 votes to 134 in July 2025, while the Senate Banking Committee approved its own version by 15 votes to 9 in May 2026. Negotiations are stalled over anti-money laundering controls, stablecoin rewards, and an ethics clause targeting politicians. Republican Majority Leader John Thune has indicated that passage before the summer recess appears unlikely, as the bill requires at least 60 votes in the Senate.
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