SEC Chair Says Digital Asset Market Act Near Passage

The chairman of the U.S. Securities and Exchange Commission has expressed strong confidence that comprehensive cryptocurrency legislation will soon be signed into law, signaling a significant shift in the regulatory approach to digital assets. SEC Chair Paul Atkins stated he expects Congress to pass the Digital Asset Market Clarity Act and for President Donald Trump to sign it, providing a formal statutory foundation for oversight.

Atkins made the remarks as the legislation, having already passed the House of Representatives, recently advanced through the Senate Banking Committee and now moves toward a full Senate vote. He described regulatory uncertainty as the primary obstacle facing the crypto industry in the United States, arguing that unclear rules have created needless costs, stifled domestic innovation, and driven businesses to develop services overseas. The new framework, he said, is designed to resolve those concerns by establishing clear distinctions between digital commodities and securities, thereby reducing jurisdictional overlap between the SEC and the Commodity Futures Trading Commission.

The chairman framed the legislation as critical for maintaining American...