Regulators Unveil Pro-Crypto Plan Amid Clarity Act Delay

The long-awaited Clarity Act has stalled, but regulators are pushing forward with pro-crypto initiatives. The Securities and Exchange Commission (SEC) is preparing to roll out a tailored offering regime for certain investment contracts involving crypto assets.

This move comes as the Clarity Act faces a September vote after being delayed. Lawmakers were initially hoping it would pass before Congress departed for August recess, but Democrats had issues with the bill's new draft, which tackled ethics and banned government officials from promoting or making money from crypto.

The SEC will hold an open meeting on Friday to discuss this new regime, which aims to create a more favorable environment for crypto companies. Meanwhile, Commodities and Futures Trading Commission Chairman Michael Selig is ready to proceed with rulemaking, regardless of the Clarity Act's outcome, to finalize rules before the end of the current administration.