SEC to Continue Crypto Plan Even if Clarity Act Fails: Three Areas in Focus

SEC Chair Paul Atkins has announced that the agency will proceed with its crypto regulation plan even if the Clarity Act does not pass.

U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins called on Congress to expedite the Clarity Act, which aims to regulate the structure of crypto markets. However, Atkins stated that the SEC will advance its own crypto agenda regardless of the bill’s outcome.

Speaking at the Solana Policy Institute event held in Washington, Atkins stated that the bill should be sent to the President’s desk. The Senate is expected to hold a procedural vote on Tuesday, September 15, to determine whether to proceed with the consideration of the bill.

SEC to Focus on Three Areas Even Without the Clarity Act

The plan under Project Crypto, as announced by Atkins, focuses on the issuance, transfer, and custody of digital assets in the U.S. The first pillar of this plan is Regulation Crypto Assets, which the SEC is currently working on.

If the proposal is adopted, it aims to provide entrepreneurs with greater clarity on the rules they are subject to when raising capital with digital assets in the U.S. Atkins said this framework could help companies operate without having to guess legal boundaries.

The second area involves transfer agent rules, which have not been comprehensively updated in nearly 40 years. The SEC is considering renewing these rules to allow for the use of blockchains in digital ownership records. This is intended to create a more modern infrastructure for how ownership records of tokenized assets are maintained.

The third initiative is the clarification of crypto custody rules for investment advisors and regulated funds. Atkins has asked SEC staff to prepare a proposal that could, under certain conditions, allow advisors to self-custody crypto assets and utilize state trust companies.

Political uncertainty surrounding the Clarity Act persists. While banking institutions are demanding stricter limits on stablecoin yields and rewards, 18 state attorneys general have warned that the bill could weaken state authority against crypto fraud. Polymarket odds for the bill becoming law in 2026 dropped to 17 percent on Monday.