Key Highlights
- SEC Chair Paul Atkins announced its collaboration with the Senate Banking Committee on February 12
- He stated that legislation like the CLARITY Act is needed to make permanent crypto rules permanent, which must be different from temporary agency actions
- Senator Tim Scott is creating market structure reform to end years of regulatory confusion between the SEC and the CFTC
The U.S. Senate Banking Committee is working on crypto legislation in collaboration with Securities and Exchange Commission (SEC) Chairman Paul Atkins.
INTEL: The U.S. Senate Banking Committee announced that it is collaborating with SEC Chair Paul Atkins on legislation to define the market structure for Bitcoin and other cryptocurrencies, aiming to establish the United States as the global leader in crypto for generations to… pic.twitter.com/KofeEM9p50
— Solid Intel 📡 (@solidintel_x) February 12, 2026
The purpose of this collaboration is to make the US the capital of cryptocurrency.
SEC Paul Atkins Wants Permanent Rules for Crypto
During a February 12 hearing before the Senate Banking Committee on SEC oversight, Chairman Paul Atkins has made demand for congressional action.
He stated that while the SEC can issue temporary rules through its “Project Crypto” project. But legislation is important to make cryptocurrency policy permanent.
He stated in the press release, “I also support congressional efforts to enact the CLARITY Act. Upon its passage, the Commission stands ready to implement this landmark legislation. A federal framework for crypto markets is long overdue. Under Commissioner Hester Peirce’s leadership of our Crypto Task Force, SEC staff has provided more clarity in the past year than in the prior decade, but there is no action we can take that future-proofs our rulebook more formidably than nonpartisan market structure legislation.”
He said that the newly launched joint SEC-CFTC Project Crypto. It is working as a “bridge toward legislation” by creating a clear token taxonomy.
The CLARITY Act is currently at the center of the discussion.
Senate Demands Market Structure Reform
Senate Banking Committee Chairman Tim Scott, Republican of South Carolina, has stated that market structure reform is the main priority.
The agency has been working for months on a legislative framework. It will create a draft from both the Banking and Agriculture Committees.
The legislation is expected to resolve years of regulatory confusion between the SEC and the Commodity Futures Trading Commission.
It is expected to end the previous enforcement actions with clear rules.
Scott stated in the official document, “This legislation is about making America the crypto capital of the world – so the next generation of jobs and innovation is built here, not overseas. When we set clear rules, we give entrepreneurs the confidence to start companies, hire workers, and grow right here in the United States. We also make it harder for criminals and foreign adversaries to use new technology to rip off Americans or undermine our financial system. After months of serious, bipartisan work, it’s time to move this forward and deliver real results for the American people.”
The markup session was scheduled for January 15. However, it was postponed after Coinbase declared its withdrawal of support for the draft legislation. The next markup session is expected to take place in March.
Also Read: Ripple Could Become a $1 Trillion Company, Says CEO Brad Garlinghouse
