SEC Commissioner Peirce Calls New Crypto Proposal a Major Step Forward

SEC Commissioner Hester Peirce praised the agency’s newly proposed crypto regulations, saying they represent meaningful progress after years of applying rules poorly suited to digital assets. In a Tuesday statement, Peirce said an entire generation of crypto companies had struggled under the SEC’s previous approach, calling the new framework an important move toward clear, enforceable rules for crypto offerings.

Atkins Says Old Approach Pushed Business Overseas

SEC Chairman Paul Atkins echoed the sentiment, arguing the agency’s prior enforcement-focused strategy had driven investment activity offshore, limiting the protections available to domestic investors. The SEC’s Tuesday proposal aims to create a tailored framework for investment contracts involving crypto assets, allowing companies to raise capital while maintaining investor safeguards.

Timing Tied to Stalled CLARITY Act

The proposal arrived just days after the Senate failed to advance the CLARITY Act, legislation intended to establish a comprehensive federal framework for crypto oversight. Atkins had previously told media in late July that the SEC was prepared to move forward with its own rules if Congress couldn’t deliver.

CLARITY Act’s Odds Slipping

Investment firm Galaxy Digital has lowered its estimate for the CLARITY Act passing in 2026 to just 10%, citing unresolved political disputes and a narrow window of roughly two to three weeks once the Senate reconvenes in mid-September.