In the official post on X, Paul Atkins, Chairman of the SEC, stated that “I am committed to supporting Congress in advancing the CLARITY Act, including providing technical assistance. American leadership in the digital finance revolution means matching the energy of American innovators with a regulatory framework worthy of them.” If Congress Fails, SEC Will Establish Its Own Crypto RulesThe U.S. Securities and Exchange Commission said that it is ready to draft its own regulatory framework for digital assets if Congress fails to pass the CLARITY Act. Hopes for CLARITY Act Cloture Vote This Week FadeAccording to Eleanor Terrett’s post on X, hopes that Senate Majority Leader John Thune would conduct a cloture vote on the Digital Asset Market Clarity Act this week are quickly fading. The CLARITY Act is designed to provide much-needed regulatory clarity for digital assets by dividing regulatory oversight between the CFTC and the SEC.