Securities and Exchange Commission Chairman Paul Atkins has publicly endorsed the long-awaited legislation designed to establish a comprehensive market structure for digital assets. In a post on X Tuesday, the head of Wall Street’s primary regulator stated he is “committed to supporting Congress in advancing the CLARITY Act, including providing technical assistance.”
JUST IN: SEC Chair Paul Atkins says he will support Congress in passing the Clarity Act:
“I am committed to supporting Congress in advancing the CLARITY Act, including providing technical assistance.” pic.twitter.com/wRRbnY9vXu
— Bitcoin Magazine (@BitcoinMagazine) July 28, 2026
“American leadership in the digital finance revolution means matching the energy of American innovators with a regulatory framework worthy of them,” Atkins wrote on the social media platform, sharing a video clip from a Monday CNBC interview where he discussed the necessity of the legislation.
Appointed by President Trump and sworn in as the 34th SEC Chairman last year, Atkins has adopted a markedly more crypto-friendly regulatory posture than his predecessor, Gary Gensler. His backing adds significant weight to the effort to move the bill forward.
Major financial institutions, including Fidelity and Goldman Sachs, have also voiced support for the measure. However, a coalition of Democrats recently argued the current draft falls short, creating a hurdle for lawmakers aiming to pass the act before the August recess.
Although the legislation cleared the House of Representatives last year with strong bipartisan backing, it has stalled throughout much of 2026. The deadlock stems partly from banking industry concerns regarding stablecoin yields and Democratic objections to ethics provisions.
Banking lobbyists have warned that competitive yields offered by crypto exchanges could erode traditional deposit bases. An updated version of the bill introduced last week attempts to address ethical concerns by prohibiting government officials and their families from issuing or promoting digital assets.
Republican leadership is now seeking to secure bipartisan consensus this week to advance the legislation. If enacted, the Clarity Act would establish the first comprehensive regulatory framework for the U.S. cryptocurrency market.
