SEC to Unveil Alternative Crypto Plans to the CLARITY Act

The US Securities and Exchange Commission (SEC) votes Friday, August 14, on proposing Regulation Crypto. The purpose-built offering regime would mark the agency’s first major crypto rulemaking under Chair Paul Atkins.

The Senate left for its August recess without passing the CLARITY Act. That bill would divide digital asset oversight between the SEC and the Commodity Futures Trading Commission (CFTC).

SEC Crypto Plans Take Shape Before Friday Vote

Congressional inaction hands regulators the near-term initiative. Official notices confirm the open meeting for 10 a.m. ET at the agency’s Washington headquarters, with a live webcast. The agenda lists a single item from the Division of Corporation Finance.

Commissioners will decide whether to propose rules that give token offerings a dedicated legal path. Qualifying projects could raise capital under exemptions instead of completing full securities registration. The vote covers a proposing release only, so the text remains under wraps until Friday.

The proposal grew out of Project Crypto, the regulatory package Atkins placed on the SEC’s 2026 agenda. Its planks include registration exemptions for token sales, safe harbors for decentralizing projects, and custody standards for broker-dealers.

Atkins told CNBC in late July that the agency stands ready to act alone, even though he still prefers legislation.

“Statute is the way to future-proof something,” Atkins said in the interview.

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Senate Recess Leaves Regulators in the Lead

Democrats blocked floor action over an ethics carve-out tied to President Trump’s crypto holdings, according to American Banker. Republicans Josh Hawley and Jerry Moran also objected to the bill’s stablecoin yield language, siding with community banks.

Senate Majority Leader John Thune says the measure will move first when lawmakers return, teeing up a possible September vote. However, the bill still needs 60 votes, and Thune’s cloture strategy depends on Democratic support that has yet to materialize.

Meanwhile, some analysts argue the industry can advance without the bill. Grayscale research head Zach Pandl said passage looks unlikely in 2026 either way.

CFTC Signals the Same Playbook

The SEC is not acting in isolation. CFTC Chair Michael Selig issued a parallel warning in a July Fox Business interview. Regulators would end up writing all the crypto rules if Congress fails to deliver, he cautioned. He still urged senators to pass the bill, calling federal certainty critical for business.

Both agencies already coordinate closely. Their March joint interpretive rule classified most tokens outside securities law and carved out staking, mining, and airdrops.

Still, Atkins concedes that agency action lacks permanence. A future administration could reverse rules that Congress never wrote into statute. That caveat also applies to the March guidance itself.

A yes vote on Friday would open a public comment period, not finalize anything. The proposal’s exemption thresholds and eligibility tests will reveal how far the SEC intends to go without Congress. September’s Senate return will then show whether lawmakers reclaim the pen.

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