The Digital Asset Market Clarity Act has effectively been shelved in the United States, according to CoinDesk, removing what had been a key legislative effort to define how different types of crypto assets would be regulated. The bill had aimed to clarify agency jurisdiction, expand the Commodity Futures Trading Commission’s oversight of the crypto spot market, and give DeFi developers limited legal protections.
With the measure no longer advancing, Securities and Exchange Commission Chairman Paul Atkins has moved to address the gap through agency action. After taking office, Atkins pushed to create a lawful regulatory path for tokenized securities and recently introduced a "Regulation Crypto Assets" framework designed to streamline fundraising, recognize blockchain-based ownership records, and refine custody rules for investment advisers handling digital assets.
At the same time, CFTC Chairman Mike Selig is pursuing a separate policy track. The CFTC has submitted a proposal on crypto trading and markets for White House review, and Selig is now studying whether to create a new "crypto asset market" category, modeled on designated contract markets, to regulate related firms more clearly.
The Digital Asset Market Clarity Act has effectively been shelved in the U.S., according to CoinDesk, a setback described as a major blow to the crypto industry.
The bill had been designed to define different categories of crypto assets and assign regulatory authority accordingly. Its core provisions included giving the Commodity Futures Trading Commission more comprehensive oversight of the crypto spot market and offering DeFi developers limited legal protections.
SEC moves to fill the gap
With the bill no longer advancing, Securities and Exchange Commission Chairman Paul Atkins has moved quickly to address the regulatory gap.
After taking office, Atkins pushed to establish a lawful framework for tokenized securities. More recently, he proposed a "Regulation Crypto Assets" framework intended to simplify fundraising, give legal effect to blockchain-based ownership records, and refine digital asset custody rules for investment advisers.
CFTC advances its own plan
At the same time, CFTC Chairman Mike Selig is also pressing ahead with crypto-related rulemaking.
The agency has submitted a proposal covering crypto trading and markets for White House review. Selig is currently focused on studying whether to create a new "crypto asset market" category, similar to designated contract markets, to regulate related firms in a more standardized way.
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