SEC Cancels Crypto Regulatory Meeting Amid Legislative Uncertainty

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 did not act, regulators might step in instead. While such actions would differ from legislation—being subject to judicial challenges and easier to reverse by future administrations—the expectation was that entrenched regulations would be harder to dismantle.

However, this assumption hinges on the SEC and CFTC finalizing proposed rules in time for public comment and implementation. The SEC announced late Thursday that it was canceling its scheduled meeting and would reschedule at a later date. CoinDesk and other outlets also reported that the SEC is indefinitely delaying its rollout of an innovation exemption.

Individuals familiar with the situation indicated that concerns about the Clarity Act’s progress prompted the SEC’s postponement. The White House and lawmakers have expressed worries that SEC action could complicate ongoing negotiations for the legislation ahead of the Senate’s first vote next month.

Source link