SEC Chair: Commission to Clarify On-Chain Financing Rules Within Statutory Authority

SEC Chair Paul Atkins stated that the commission will clarify rules for on-chain financing within its existing statutory authority, following the failure of the CLARITY Act to pass the U.S. Senate on September 15. Atkins has not yet specified whether the guidance will take the form of exemptions, registration pathways, or staff guidance. The SEC previously paved the way for tokenized stocks on September 17 and issued FAQs on September 25 regarding how issuer commitments affect securities classification. Commissioner Hester Peirce is set to depart on October 2, leaving only Atkins and Mark Uyeda as sitting commissioners.