SEC Chair Paul Atkins and CFTC Chair Mike Selig spoke on CNBC on Thursday as debate continued over stablecoin yield in the CLARITY Act.
US Securities and Exchange Commission Chair Paul Atkins and Commodity Futures Trading Commission Chair Mike Selig appeared on CNBC’s Squawk Box on Thursday to discuss the crypto market structure bill and a White House–hosted meeting scheduled for Monday.
The bill was recently held up in the Senate, where it is undergoing committee review after being passed in the House of Representatives, with lawmakers working through unresolved issues on the Agriculture and Banking Committees.
Source: Paul AtkinsOne of the central sticking points in the legislation is how stablecoin yield should be treated, an issue that has divided traditional banks and crypto companies. Coinbase recently withdrew support for the bill, citing concerns over several provisions, including those related to yield.
When questioned, neither Atkins nor Selig appeared willing to take a side in the dispute. Atkins said the SEC has been advising both committees and is “looking forward to helping them get across the finish line and getting something that works for all the parties.”
Selig pointed to the GENIUS Act, passed in July 2025, as having placed stablecoin policy largely outside the agency’s remit, leaving the commission focused on “securities, tokens and tokenized securities.”
He said that the agency stands ready to engage once lawmakers reach a resolution, adding: “We’re ready, willing, and able to work with whatever they come up with.”
SEC Chair Paul Atkins (middle) and CFTC Chair Mike Selig (right) on CNBC’s Squawk Box. Source: CNBCThe remarks came as US lawmakers opened a committee session Thursday to debate and amend the crypto market structure bill. After just over an hour of debate, the Senate Agriculture Committee voted 12–11 to advance the digital asset market structure bill, clearing the way for a future floor vote.
The White House’s crypto council is set to host a meeting between banking and crypto industry executives as negotiations continue over the stalled CLARITY Act.
The CLARITY Act is proposed legislation aimed at defining the US regulatory framework for digital assets, including how authority would be split between the SEC and the CFTC.
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