SEC Chair Paul Atkins Vows Onchain Rules Despite Failed CLAIRTY Act

Key Takeaways

• Paul Atkins told CNBC on Sept. 29 that the SEC will define onchain fundraising rules without Congress.
• The CLARITY Act failed a 49-50 Senate cloture vote on Sept. 15, pushing crypto policy to regulators.
• Hester Peirce leaves Oct. 2, leaving just two SEC commissioners to drive the next round of crypto rules.

What Did Atkins Actually Say?

Atkins sat down with CNBC’s Squawk Box in a wide-ranging Sept. 29 interview covering the initial public offering (IPO) market and trading in tokenized securities. However, the conversation drifted into the crypto realm, with one line perking up everyone’s ears:

Congress failed, so the SEC will provide the answers itself on raising capital onchain.

And while the position isn’t a new one, it has become louder than ever in recent weeks. To elaborate, the day after the Senate vote, Atkins posted the following message on X, where he did not hold back one bit, stating unequivocally:

With or without legislation, we will act decisively within the SEC’s statutory authority to deliver certainty for American investors and for the entrepreneurs shaping our technological future.

He has not said what form the onchain fundraising guidance will take, whether an exemption, a registration pathway or staff-level guidance.