SEC · CLARITY Act · US Congress · CoinDesk
SEC cancels long-awaited proposal of Reg Crypto, postponing meeting without new date
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The U.S. Securities and Exchange Commission was on the verge of revealing its first major rulemaking effort in the digital assets sphere, having been set to propose its "Regulation Crypto," but the agency cancelled the Friday meeting in an end-of-day statement on Thursday.
Key facts
- SEC Chairman Paul Atkins had talked about this Reg Crypto rulemaking, "a tailored offering regime for certain investment contracts", as one of the central points of his digital assets regulatory plan
- The U.S. Securities and Exchange Commission was on the verge of revealing its first major rulemaking effort in the digital assets sphere, having been set to propose its "Regulation Crypto
- Due to an unforeseen scheduling issue," the SEC is moving the meeting to "a later date," according to a statement from an agency spokesperson
- In the absence of progress in the Senate's Digital Asset Market Clarity Act, the legislation that would establish a legal foundation for crypto market activity in the U.S., the industry had looked
Summary
The U.S. Securities and Exchange Commission suddenly postponed the Friday meeting at which it intended to propose the rule known as “Regulation Crypto.” The agency cited an “unforeseen scheduling issue” as the reason for canceling the meeting. "Due to an unforeseen scheduling issue," the SEC is moving the meeting to "a later date," according to a statement from an agency spokesperson. In the absence of progress in the Senate's Digital Asset Market Clarity Act, the legislation that would establish a legal foundation for crypto market activity in the U.S., the industry had looked to the SEC to pick up the baton.