SEC Cancels Crypto Rulemaking Meeting, Boosting Clarity Act Passage Chances

The Securities and Exchange Commission (SEC) has canceled its August 14 meeting on crypto rulemaking, citing an 'unforeseen scheduling issue.' The cancellation may be a good sign for the passage of the CLARITY Act, according to Nate Geraci, President of The ETF Store.

Geraci suggests that certain influential Senators may have come to their senses and realized that the SEC can and will move forward on crypto innovation regardless of Congressional action. This realization could have driven behind-the-scenes pressure, signaling renewed urgency around the CLARITY Act.

The SEC had made its intentions clear before the cancellation, stating it is 'ready, willing, and able to come out with rules' whether Congress acts or not. Commissioner Hester Peirce echoed this position, confirming the SEC will advance work on custody, tokenized securities trading, and fundraising frameworks for crypto assets.