Key Takeaways
- The CLARITY Act would place digital commodities like BTC under the CFTC and digital securities under the SEC.
- The SEC has requested a $2.15 billion budget for 2026, down from $2.5 billion in 2024.
- The GENIUS Act could see a final Senate vote this week.
The U.S. government is focusing on crypto this week, with the Securities and Exchange Commission (SEC) seeking a $2.15 billion budget for 2026, and a new crypto market framework bill starting its path through Congress.
At the same time, the bipartisan GENIUS stablecoin bill may be headed for a final Senate vote, provided no further amendments delay the process.
Budgets and Bills
At 2:30 p.m. EST, the Senate Appropriations Committee will hold a hearing on the SEC’s $2.15 billion budget request for 2026. Newly appointed SEC Chair Paul Atkins will testify.
This request is notably lower than the $2.59 billion requested for 2025 by former Chair Gary Gensler, who justified the increase with a growing SEC staff.
Under Atkins, the SEC has trimmed its workforce and taken a more streamlined enforcement approach.
The new budget suggests the regulator may be stepping back from aggressively policing all crypto activity, returning to a more traditional regulatory stance.
In a related development, the Digital Asset Market Clarity (CLARITY) Act—introduced on May 29, 2025—will be the focus of a joint congressional hearing on June 4.
The hearing will feature testimony from notable figures, including Uniswap’s Chief Legal Officer Katherine Minarik and former CFTC Chair Rostin Behnam.
The CLARITY Act aims to clarify regulatory boundaries, assigning oversight of digital commodity spot markets like Bitcoin (BTC) to the Commodity Futures Trading Commission (CFTC), while the SEC would regulate digital securities.
Key provisions also seek to exclude certain DeFi platforms and wallet providers from SEC oversight, protect self-custody rights, and prohibit regulators from requiring custody firms to hold client assets on their balance sheets.
Stablecoins 2025
The U.S. Senate is expected to discuss two stablecoin bills this week: the bipartisan GENIUS Act and the STABLE Act.
These two bills aren’t exactly in competition with each other, but are instead complementary.
Interestingly, these acts originated in different U.S. chambers, with STABLE coming from the House and GENIUS originating in the Senate.
A final vote on the GENIUS bill is anticipated this week. Naturally, the bills have faced opposition, which could delay the bill’s passage.
Moreover, Democrat Senator Elizabeth Warren, who has previously argued that without significant changes such as enhanced anti-money laundering (AML) laws and barring Big Tech, these bills, in their current form, could lead to serious corruption amongst tech firms, and even “supercharge” terrorist financing.
Eddie is a gaming and crypto writer at CCN. Covering the often weird and wonderful world of Web3 with an adoring, but skeptical eye.
Prior to CCN, Eddie has spent the past seven years working his way through the crypto, finance, and technology industry. He began with PR and journalism with Bitcoin PR Buzz and BitcoinNews.com, eventually working his way to become a copywriter with a dozen firms, including the likes of Polkadot before returning to journalism in 2023.
Having studied Radio production and journalism at University in the UK, Eddie spent a few years making podcasts and presenting on a local London radio station as he built up his writing chops.
A lifelong skateboarder, Eddie can often be found at the skatepark or touring the streets looking for something new to try. That, or kicking back playing JRPGs on his original PSP.
