Federal Legislative and Regulatory Progress
SEC Chair Paul Atkins has indicated that the Clarity Act is expected to pass this month, marking a potential milestone in federal crypto regulation. The legislation represents efforts to establish clearer regulatory boundaries between the SEC and CFTC's respective jurisdictions over digital assets.
Beyond the Clarity Act, crypto industry groups including The Crypto Council for Innovation, Grayscale, and a16z have petitioned the SEC to preserve existing fund classifications and streamline review processes for novel exchange-traded products. This reflects ongoing dialogue between regulators and market participants on balancing innovation with investor protection.
Separately, Ondo has urged the SEC and CFTC to establish frameworks allowing perpetual futures tied to individual US stocks to operate onshore, arguing that existing securities laws can accommodate such derivatives. This proposal seeks to bring more derivatives trading activity under domestic regulatory oversight.
