SEC Chair Paul Atkins has stated that this week is significant for cryptocurrency as Congress prepares to vote on critical market structure legislation.

“This is a big week for crypto—Congress is on the cusp of upgrading our financial markets for the 21st century,” Atkins conveyed during an interview on Fox Business on Monday.

The proposed market structure legislation aligns with the President’s vision to establish America as the leading hub for cryptocurrency. According to Atkins, clear legislation will provide certainty and structure in the market.

“We’re behind it, we’re very bullish on the effects of the bill getting to the President to be signed this year. I believe it will be a tremendous boost for the crypto market and its investors,” he expressed.

Clarity is Key for Markets

“The most essential action we can take now for investors is to remove cryptocurrency markets from regulatory ambiguity,” stated Atkins on X following his interview.

He further emphasized that the bipartisan market structure legislation, which can be explored in detail here, aims to safeguard against overreaching regulations.

Quote from David Sacks: “The President has assembled an outstanding team for financial services regulation, and I’m eager to collaborate with my colleagues to implement this important legislation in the upcoming months and years.”

Atkins reiterated the need for Congress to clarify the jurisdictional boundaries between the SEC and the CFTC.

“If it is passed and signed into law, we could see new all-time highs in Bitcoin,” remarked Matt Hougan, who referred to the CLARITY Act as the “Punxsutawney Phil of this crypto winter.” He noted that if the act fails, the desolate crypto market conditions may persist. In contrast, if it passes, it could lead to significant market growth.

Thursday, January 15, is earmarked for the markup of the Act in the US Senate, which involves synchronizing drafts from both the Senate Banking and Agriculture committees and facilitating a final vote in Congress.

Michaël van de Poppe, co-founder of MN Fund, mentioned that the ramifications of the CLARITY Act are often underestimated by the public. He expressed that this legislative measure is potentially the most impactful event of January, which could set the direction for the entire cryptocurrency ecosystem throughout 2026.

As developments progress, Bitcoin was trading around $91,200 at the time of this report, down 28% from its all-time high.