SEC Chair Paul Atkins said the regulator is ready to publish its own rules covering key crypto market structure issues if Congress fails to pass the CLARITY Act. The SEC is actively assisting lawmakers with technical guidance on this proposed crypto market structure legislation. The Senate has sidelined the bill to focus on a Russia sanctions package and presidential nominees, significantly reducing time available before the August recess. Negotiations over government ethics provisions tied to President Trump’s crypto interests remain unresolved. If the CLARITY Act fails, regulatory progress would shift toward implementation of the GENIUS Act and rulemaking by the SEC and CFTC.
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