The SEC canceled a key meeting on digital asset regulations and exemptions, citing unresolved legislative developments.
The U.S. Securities and Exchange Commission abruptly canceled a planned meeting to advance its Reg Crypto rulemaking and unveil a delayed innovation exemption. The decision follows industry speculation that regulators might act if Congress failed to pass the Digital Asset Market Clarity Act before the August recess.
The meeting was expected to outline how companies could fundraise using tokens and potentially exit SEC jurisdiction. Sources indicated the agency would also address security token issuance under the innovation exemption, but neither proposal was discussed.
Regulatory actions, unlike legislation, are subject to legal challenges and could be reversed by future administrations. However, industry participants argue that established rules would be difficult to undo, even if not as permanent as laws.