SEC to Define Onchain Fundraising Rules After CLARITY Act Fails
- Paul Atkins announced that the SEC will establish onchain fundraising rules independently of Congress.
- The CLARITY Act failed in the Senate with a close vote of 49-50 on September 15.
- Hester Peirce, known as “Crypto Mom,” resigned on October 2, leaving only two SEC commissioners.
- On September 17, the SEC approved tokenized stocks for closer to 24/7 trading.
- The SEC’s Division of Corporation Finance released nine FAQs on token issuer promises affecting securities treatment on September 25.
With Congress unable to pass the CLARITY Act, responsibility for crypto regulation has shifted to the SEC. Paul Atkins emphasized that guidance will be provided within existing statutory authority, ensuring certainty for investors and entrepreneurs.
The failure of the CLARITY Act vote and Hester Peirce’s resignation underscore a critical moment for crypto regulation, with only two commissioners now tasked with shaping future rules. (Source)
