SEC Opens Rulemaking With August 14 Vote on Regulation Crypto

That question has never been answered formally.

Chairman Paul Atkins has repeatedly called Regulation Crypto a central element of his digital asset agenda. The vote comes after the Senate failed to advance the Digital Asset Market Clarity Act before the August recess. That bill would have set the jurisdictional line between the SEC and the Commodity Futures Trading Commission for crypto markets. With Congress stalled, the SEC is using its rulemaking authority to fill part of that gap. TD Cowen analyst Jaret Seiberg said the proposal is likely the first of several SEC rulemakings aimed at regulatory certainty after lawmakers left the market-structure bill unmoved.

A final rule is far off. Publishing the proposal triggers a public comment period under the Administrative Procedure Act, a phase that typically lasts months. The SEC could revise the plan in response to comments before any final adoption. A vote to publish starts the rulemaking clock; it does not change the rules any time soon.

Also on the agenda is a joint crypto-asset taxonomy with the CFTC and a separate approach to tokenized securities. Atkins has continued to say congressional legislation remains important. With the Clarity Act delayed, the SEC's formal rulemaking process is becoming the most immediate channel for shaping U.S. crypto policy.