Securities and Exchange Commission (SEC) Chairman Paul Atkins said his agency is prepared to issue crypto market rules on its own if the Clarity Act does not pass the Senate this year.
Speaking on CNBC's "Squawk on the Street" program on Monday (July 27), Atkins said the SEC would not wait indefinitely for legislative action. "Statute is a way of future-proofing something. We're ready, willing and able to issue rules that address the same issues in Clarity and other issues in the crypto market, and I think it behooves us to do that," he said.
He added that if Congress does not act, the SEC would step in to fill the gap. "Should something not happen in Congress, then we stand ready to provide that," Atkins said.
The Clarity Act passed the House last July with broad bipartisan support, but its path through the Senate remains uncertain this year.
