The SEC is gearing up to create its own crypto regulations if the Clarity Act stalls in Congress. Chairman Paul Atkins told CNBC the agency is “ready, willing, and able” to step in with rules under existing authority if lawmakers fail to finalize the bill. While he stressed that legislation would provide more stability, the SEC won’t leave the market without guidance.
The Clarity Act has passed the House and got a 15-9 vote from the Senate Banking Committee back in May, but it still hasn’t reached the full Senate floor. The delay has pushed the SEC to prepare an alternative path to provide clarity amid ongoing uncertainty for crypto businesses and investors.
South Korea Sets January 2027 as Crypto Tax Start Date
Meanwhile, South Korea’s government confirmed its crypto tax will activate on January 1, 2027, ending years of postponements. Deputy Prime Minister and Finance Minister Koo Yun-cheol emphasized the plan will move forward, despite previous delays since the tax was initially slated for 2022. This tax introduction comes as global regulators sharpen their focus on crypto oversight and reporting.
Analysts are also watching Bitcoin closely around the upcoming U.S. midterm elections, recalling how past market cycles have shown volatility during these periods. The regulatory backdrop in the U.S. combined with South Korea’s tax timeline could create interesting dynamics for crypto investors this year.
This material is informational and not financial advice.
