The story

SEC Chairman Paul Atkins said he anticipates and hopes that the CLARITY Act will pass the Senate and reach President Donald Trump's desk. The Senate is scheduled to hold a procedural vote on September 15. Atkins made the comments during a September 2 appearance on Fox Business while discussing a new SEC proposal called Regulation Crypto Assets, which he described as the agency's most historic step yet toward making the United States the crypto capital of the world.

The SEC proposal is intended to make it easier for crypto companies to raise capital in the United States and establish a clearer path for digital asset businesses to offer products domestically. Atkins said the previous administration's policies drove innovators offshore to develop products and raise money, and the new rules aim to bring them back. The agency is taking public comments on the proposal. Atkins said the SEC has authority under existing laws to advance the proposal even without congressional action, but statutory backing is necessary to ensure the rules remain stable and sustainable.

The CLARITY Act would establish definitions for digital assets, reduce legal uncertainty surrounding crypto trading, and divide oversight between the SEC and Commodity Futures Trading Commission. Prediction markets reflect uncertainty about passage. Kalshi placed the probability of the CLARITY Act becoming law this year at 49%, while Polymarket traders assigned only a 16% chance that the legislation will become law before the end of 2026. YouTuber Digital Asset Investor claimed the CLARITY Act will make XRP millionaires overnight, though Vice President JD Vance did not endorse that prediction.