SEC · CLARITY Act · US Congress · CoinDesk
The U.S. Securities and Exchange Commission announced early last week it would hold an open meeting where commissioners would
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The SEC was also set to unveil at least part of its innovation exemption, industry last week, which would address to some extent how security token issuers can handle underlying securities.
Key facts
- Individuals familiar with the situation told CoinDesk that concerns about the Clarity Act led to the SEC's postponement
- That argument above presupposes that the SEC and CFTC are able to finalize proposed rules in time for them to kick around for a bit before a future SEC changing its mind
- The U.S. Securities and Exchange Commission abruptly canceled a planned meeting last Friday where it was supposed to advance its Reg Crypto rulemaking and, separately, unveil its repeatedly delayed
- CoinDesk and others also reported on Thursday that the SEC was holding off on rolling out its innovation exemption indefinitely
Summary
The U.S. Securities and Exchange Commission abruptly canceled a planned meeting last Friday where it was supposed to advance its Reg Crypto rulemaking and, separately, unveil its repeatedly delayed innovation exemption. You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Securities and Exchange Commission announced early last week it would hold an open meeting where commissioners would discuss its Reg Crypto proposal to lay out how companies could fundraise using tokens and eventually get out of SEC jurisdiction if they issue their own digital assets. Earlier this month, as it became clear that the Digital Asset Market Clarity Act would not receive a vote before the Senate's August recess, industry participants suggested that if Congress didn't act, regulators could.