SEC Postpones Crypto Meeting, But Rules Can Move Forward Regardless of CLARITY Act

The US Securities and Exchange Commission (SEC) has postponed its open meeting scheduled for Friday to discuss new crypto regulations. The SEC cited an unforeseen scheduling issue as the reason for the delay, but this move has raised concerns about its impact on the broader digital asset industry.

According to former SEC official Anne Kelley, the delay in the open meeting does not necessarily mean that the industry should wait until the CLARITY Act is passed for the regulator's rulemaking. Kelley believes that the SEC can continue working on the proposed crypto regulations and that Congress has the power to create laws, but agencies like the SEC are responsible for creating rules that put those laws into practice.

Kelley noted that Friday's open meeting would have been only the first step in the regulator's rulemaking process, which could take several months. The proposal would have had to move through different stages, including public comments. Kelley stated, 'There is no instantaneous solution. Rules that last and survive judicial review have to follow the APA. We should want them to and this should not be the SEC vs Congress, they work in tandem.'