SEC Delays Crypto Framework Amid White House Concerns
The Securities and Exchange Commission (SEC) recently delayed consideration of its major crypto regulatory framework due to White House concerns over legislation. According to a Semafor report, White House officials were worried that a separate proposal known as the innovation exemption could complicate efforts to pass cryptocurrency legislation.
Confusion centered on which measure the commission intended to advance, with only the broader framework scheduled for approval. The SEC ultimately moved ahead with its crypto framework via an individual commissioner vote rather than the canceled meeting.
The agency's action produced a proposed framework covering the application of federal securities laws to certain crypto assets and transactions. Among other provisions, the proposal includes exemptions for certain token offerings and a potential safe harbor for some crypto assets that meet specified conditions.