SEC delays crypto rule proposal meeting amid Senate inaction
U.S. crypto regulation remains in flux as the Securities and Exchange Commission cancels a public meeting that is expected to address a new framework for some digital asset offerings. The move comes as lawmakers leave Washington for the August recess without voting on broader market structure legislation for the sector.
Highlights
- The SEC cancels a Friday open meeting to consider a tailored offering regime for certain crypto asset investment contracts due to unforeseen scheduling issues.
- The cancellation follows the Senate adjourning for August recess without voting on the Digital Asset Market Clarity Act, delaying broader regulatory clarity for the crypto sector.
- SEC Chair Paul Atkins stated readiness to issue digital asset rules if the Senate fails to pass the CLARITY Act, but the meeting's cancellation leaves timing uncertain.
Cancelled meeting on crypto offering rules
As reported by Cointelegraph, citing Reuters, the SEC says it has cancelled an open meeting scheduled for Friday because of an unforeseen scheduling issue. The commission is expected to consider whether to propose a tailored offering regime for certain investment contracts involving crypto assets.The agency announces the cancellation on Thursday. It does not immediately respond to Cointelegraph's request for additional comment.
Pressure builds for regulatory clarity
The delay comes after the Senate leaves for its August recess without voting on the Digital Asset Market Clarity Act, a bill that would create a broader framework for financial regulators overseeing the crypto industry.SEC Chair Paul Atkins tells CNBC on July 27 that the agency is ready to issue rules on digital assets if the Senate fails to pass the CLARITY Act. The cancelled meeting leaves the timing of any near-term SEC proposal unclear for crypto companies and investors.
In our earlier article on prediction markets’ regulatory headwinds in the U.S., we described how platforms such as Polymarket have expanded quickly while facing ongoing scrutiny from regulators and legal challenges in multiple states, contributing to banks’ cautious stance. We also noted how this uncertainty can spill into access to financial services and broader market participation, even as the sector’s trading activity and valuations keep rising.