SEC Chair Paul Atkins told a Bitcoin conference that the Clarity Act is the piece needed to turn today’s crypto regulatory approach into durable law. Without action from Congress, he said, much of the current framework rests on guidance and administrative posture rather than statute, leaving it exposed to political change. It was the first time a sitting SEC chairman had addressed a Bitcoin conference.
Atkins says the SEC cannot lock in certainty on its own
Atkins described the SEC’s authority as being rooted in something “basically a 1930s type of thing.” In his view, the agency can move quickly, improve efficiency, and work with the Commodity Futures Trading Commission, but it cannot create long-term certainty by itself. That requires Congress.
He said nothing futureproofs a framework like a statute, followed by court opinions that shape how the law is applied over time. Without that, the progress built by the current SEC over the past two years does not have a permanent foundation and could be vulnerable if Washington shifts direction.
Future administrations were framed as the core risk
Atkins spoke plainly about the industry’s concern over a less crypto-friendly administration taking power later on. If a future government takes a hostile view and the legal default still pushes new projects toward securities classification, regulators could end up with tools that go beyond those used by the Biden-era SEC.
He noted that elections can carry major consequences and pointed to how sharply the US government’s posture has changed over the past decade. The implication was direct: what one administration builds, another can unwind, unless the framework is written into law.
Senate movement expected in May, possible vote in June
On timing, Atkins said movement in the Senate is expected in May, with a possible vote in June. After that, the bill would still need to clear the House and reach the president’s desk. He added that many pieces still have to fall into place and that the outcome is not guaranteed.
That caution reflects how crypto legislation in Washington has approached key moments before without making it across the finish line. This time, Atkins tied the stakes to whether the current regulatory direction can survive changes in political control.
Tokenized equities highlighted as a near-term opening
Atkins also pointed to tokenized equities as a major near-term opportunity. He said traditional equity settlement runs through several intermediaries, each taking fees between trade execution and final settlement. Blockchain-based systems could strip out much of that friction.
In his remarks, he said the SEC holds an important position in deciding whether that innovation is enabled or blocked. He also acknowledged the practical difficulty: some stakeholders benefit from the current structure, and their business models depend on it remaining in place.