SEC Cancels Vote on Crypto Rules Amid Senate Inaction
The US Securities and Exchange Commission (SEC) has canceled its meeting to vote on proposed crypto-related rules, citing an unforeseen scheduling issue.
The SEC was set to vote on Friday on exemptions that would allow crypto startups to raise capital without adhering to traditional securities offering rules.
This development comes as the Senate left Washington for a five-week recess over the weekend without voting on the Clarity Act, which aims to create new federal rules tailored to cryptocurrencies and provide companies with more clarity on regulations.
The SEC under Trump's Chair Paul Atkins has reversed its previous stance on crypto, shifting towards accommodating tokens and blockchain-based trading. Atkins has proposed a safe harbor that would make it easier for companies to sell tokens and raise money, as well as a 'fit-for-purpose startup exemption' that would exempt certain startups from SEC rules.