U.S. Securities and Exchange Commission Chair Paul Atkins said the agency had previously used what he described as "weaponized" regulation against the cryptocurrency industry, according to Techub News, citing CryptoBriefing. The remark came as the CLARITY Act was unveiled, a bill designed to draw clearer lines between the regulatory responsibilities of the SEC and the Commodity Futures Trading Commission, or CFTC.
The legislation is still under review in the Senate and is scheduled for a vote on Sept. 15. Atkins' statement was described as a sign of a shift in regulatory posture. Market data cited in the report showed that the probability of the bill becoming law this year slipped slightly over the past week, then edged higher over the last 24 hours.
The update links a public acknowledgment from the SEC chair with a live legislative effort that could reshape how U.S. crypto oversight is divided between the two agencies.
SEC Chair Paul Atkins said the agency had previously carried out what he called "weaponized" regulation against the cryptocurrency industry, according to Techub News.
The comment came as the CLARITY Act was unveiled. The bill would define the boundary between the regulatory responsibilities of the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission.
The CLARITY Act is still under review in the Senate and is scheduled for a vote on Sept. 15.
CryptoBriefing said the remark is being viewed as a sign of a change in regulatory posture. Market data cited in the report showed that the probability of the bill becoming law this year declined slightly over the past week and then ticked up modestly over the last 24 hours.
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