Atkins supports Senate advancement of cryptocurrency market structure bill
Securities and Exchange Commission Chairman Paul Atkins told Fox Business Channel on Wednesday that he expects and hopes the Digital Asset Markets Clarity Act will pass the Senate and reach President Trump's desk. The comments came as senators prepare for a key procedural vote on September 15, when the Senate will decide whether to advance the bill to full debate.
The vote was a closing debate motion on the "Advance Motion" and needed 60 votes to overcome the filibuster and allow the Senate to formally start debate on the bill.
Before its August 2026 recess, the Senate postponed a full vote due to partisan differences over ethics rules and banking objections. Senate Majority Leader John Thune then filed a closing debate motion to ensure the bill could move forward in September.
With elections for the full House and about one-third of the Senate seats due to be held in November, the pressure of the election season is expected to grab lawmakers 'attention and compress the meeting time needed to resolve outstanding contentious points in the bill.
Restrictions on officials involved in cryptocurrency-related businesses, anti-money laundering provisions, restrictions on decentralized finance, and restrictions on stablecoin rewards or benefits could all cause the bill to run aground.
The SEC advances its own cryptocurrency framework
Atkins said the SEC's own cryptocurrency proposal is intended to advance in parallel with legislation, rather than replace it.
On August 18, 2026, the committee proposed a new framework for "Cryptographic Asset Regulation" that would provide customized exemptions from Securities Act registration for specific issues involving crypto-assets.
The SEC has opened a 60-day public comment period, after which it will formulate final rules in the coming months.
Still, Atkins made clear that institutional action alone was not enough. As he said at the launch of the proposal: "Legislation remains indispensable to developing rules that will 'stand the test of the future' and those rules must be solid enough to protect what we do today from some future rogue regulator Overthrown."
He added that if Congress fails to pass the bill, the SEC can act under existing securities laws, but he believes the legal basis is necessary to establish a lasting regulatory framework.
Although industry executives and investors say lasting legislation will bring certainty and help attract long-term capital, the industry is ready to move forward without passing the bill.
For now, the September 15 vote will be the first indicative signal of whether a landmark cryptocurrency law can still complete the legislative process in 2026.

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