CLARITY Act Implementation Delayed Months Even If Passed

Former SEC official notes that regulatory rulemaking for the CLARITY Act requires months, citing APA compliance and public comment periods as mandatory delays.

Woofun AI reports that former SEC employee Anne Kelley stated the SEC and CFTC require at least several months to draft implementation rules even if the CLARITY Act passes. Kelley emphasized that the upcoming public hearing on tokenization innovation exemptions is only the initial step in the proposed rule-making process, necessitating further actions such as soliciting public comments. Formal rules must adhere to the U.S. Administrative Procedure Act to withstand judicial review. If the Act passes during this period, regulators can amend existing proposals via a Supplemental Notice of Proposed Rulemaking rather than restarting. Kelley referenced the GENIUS Act, which remains unimplemented a year after passage, to illustrate the time-intensive nature of regulatory rule-making.