SEC Chairman Paul Atkins announced on September 14, 2026, that the agency will provide regulatory clarity for the digital asset sector using its existing authority. This statement followed the Senate's failure to pass the CLARITY Act on September 15, 2026, where the cloture vote resulted in a 49-50 split.
The SEC launched an initiative called Project Crypto to modernize digital asset regulation. The program rests on three pillars: the Regulation Crypto Assets proposal from August 18, 2026, which addresses capital-raising and token classification; updates to transfer-agent rules; and new self-custody guidelines for investment advisers.
The agency's current strategy builds on a token taxonomy published in March 2026, which classifies most digital assets outside the scope of traditional securities. This approach marks a shift from the previous administration under Gary Gensler, who considered most crypto assets to be securities.
Industry leaders have responded to the SEC's plan. Coinbase CEO Brian Armstrong expressed support for achieving regulatory clarity through existing powers. Meanwhile, BlackRock and Fidelity had previously supported the CLARITY Act as a mechanism to expand their crypto-related product offerings.
