The Securities and Exchange Commission (SEC) has published a proposal for new rules aimed at creating a clear and fit-for-purpose framework for investment contracts involving crypto assets. Commissioner Hester Peirce described this advancement as important, after a generation of difficulties caused by the application of ill-suited rules to the crypto sector. This proposal comes just days after the US Senate failed to advance the Digital Asset Market Clarity (CLARITY) Act, which would have provided a comprehensive framework for regulating the crypto industry. SEC Chairman Paul Atkins stated that the prior enforcement-heavy approach had driven investment offshore. Galaxy Digital has cut its odds on the CLARITY Act passing in 2026 to 10%, with the Senate having only about two to three weeks to pass it when it reconvenes on September 14.
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