Regulators Push Forward with Pro-Crypto Initiatives Amid Clarity Act Delay

The long-awaited Clarity Act has stalled in Congress and its vote has been delayed until September. Despite this setback, regulators are stepping up their efforts to advance crypto rules.

The Securities and Exchange Commission (SEC) announced it will hold an open meeting on Friday to create a tailored offering regime for certain investment contracts involving crypto assets. This move is seen as a positive step towards providing clarity for exchanges, DeFi projects, and token issuers.

The Commodities and Futures Trading Commission (CFTC) has also signaled its intentions to proceed with rulemaking, aiming to finalize rules before the end of the current administration. CFTC Chairman Michael Selig stated that they will move forward with rulemaking regardless of the Clarity Act's passage.