SEC Chair says on-chain financing rules will be clarified within statutory authority
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AT A GLANCE
SEC The Chair said that on-chain financing rules will be clarified under existing authority, but the specific form has not yet been announced.
Article
【SEC Chair: Rules for on-chain financing will be clarified within statutory authority】
The U.S. Securities and Exchange Commission（SEC）Chair Paul Atkins said that although the《CLARITY Act》 was not passed by Congress, the SEC will still clarify rules for on-chain financing within its statutory authority. The U.S. Senate September 15 with 49 votes in favor and 50 votes against failed to advance the《CLARITY Act》, falling short of the required 60-vote threshold. Atkins has not disclosed whether the related guidance will take the form of an exemption, a registration pathway, or staff guidance.SEC Previously, the September 17 paved the way for tokenized stocks, and on September 25 published 9 frequently asked questions explaining the impact of token issuers’ commitments on determining whether an asset is a security. Commissioner Hester Peirce will step down on October 2, at which point the SEC will have only two sitting commissioners remaining: Atkins and Mark Uyeda.
Key points
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SEC Chair Paul Atkins said that even if the CLARITY Act is not passed by Congress, the SEC will still clarify rules for on-chain financing within its statutory authority.
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The U.S. Senate September 15 with 49 votes in favor and 50 votes against failed to advance the《CLARITY Act》, falling short of the 60-vote threshold.
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Atkins has not disclosed whether the relevant guidance will take the form of an exemption, a registration pathway, or staff guidance.
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SEC Previously on September 17 paving the way for tokenized stocks, and on September 25 published 9 frequently asked questions.
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Commissioner Hester Peirce will leave office on October 2 at which time SEC only Atkins and Mark Uyeda will remain as sitting commissioners.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This means SEC The chair stated that even if the relevant bill does not pass, regulators may still use their existing legal authority to formulate rules for on-chain financing. However, what the rules will specifically be, when they will be issued, and whether they will take the form of an exemption, registration, or staff guidance remain unclear.
Why it matters to readers
The clarification of rules could affect compliance expectations for on-chain financing and tokenized securities businesses in the United States, but the specific impact will depend on the SEC final arrangements announced.
On-chain financing is financing conducted using blockchain technology. Regulatory rules will affect whether projects can operate, what needs to be registered, and whether an exemption can be obtained.
Risks and unknowns
This report currently has only a single source and does not provide SEC an official announcement, the original speech, or other independent sources for verification.
The form, scope, and release date of the guidance related to Atkins have not yet been announced.
The materials alone cannot confirm whether the final rules will lower or raise the compliance threshold.
The materials alone cannot confirm how changes in the commissioners will affect SEC the subsequent regulatory agenda.
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Related concepts
On-chain financing
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