The U.S. Senate Committee on Banking, Housing and Urban Affairs published Chairman Tim Scott’s opening remarks from an oversight hearing with U.S. Securities and Exchange Commission (SEC) Chairman Paul S. Atkins, setting out the Committee’s priorities on digital asset regulatory clarity and measures aimed at expanding capital formation. Scott pointed to the Senate version of the CLARITY Act as the vehicle to establish “rules of the road” for digital assets, including defining responsibilities for regulators and protecting investors. He also highlighted a forthcoming Committee effort to advance a capital formation package, the Empowering Main Street in America Act, and cited SEC actions and commitments under Atkins, including promoting initial public offerings, revisiting the public company disclosure regime, extending compliance dates for several rules finalized under prior SEC leadership, and withdrawing proposed rules including ESG-related requirements for registered funds and investment advisers. The Committee indicated it plans to move forward with the CLARITY Act and advance the Empowering Main Street in America Act.
U.S. Senate Committee on Banking, Housing and Urban Affairs 2026-02-12
U.S. Senate Committee on Banking, Housing and Urban Affairs chairman outlines push for the CLARITY Act and a capital formation package in SEC oversight hearing
The U.S. Senate Committee on Banking, Housing and Urban Affairs outlined priorities for digital asset regulatory clarity and capital formation, emphasizing the CLARITY Act and the Empowering Main Street in America Act. Chairman Tim Scott highlighted SEC Chairman Paul S. Atkins' commitments, including promoting initial public offerings and revisiting disclosure regimes.