SEC Set to Unveil Major Crypto Initiatives Amid Clarity Act Delay

The U.S. Securities and Exchange Commission (SEC) is gearing up to unveil two major initiatives for the cryptocurrency industry, despite the Senate's delay in advancing the Clarity Act.

According to sources familiar with the matter, the SEC could release details about its innovation exemption for tokenized securities as early as this week. This initiative would allow companies to experiment with blockchain-based versions of traditional securities. However, concerns have been raised about tokens representing publicly traded companies without their consent. To address these issues, the SEC has developed a mechanism that would enable companies to block the issuance of third-party tokenized versions of their shares.

The second initiative is a new framework for certain crypto-asset investment contracts. The commission will consider issuing this proposal at its August 14 open meeting. The move comes as Congress struggles to advance the Clarity Act, which aims to provide regulatory clarity for the cryptocurrency industry. Senate Majority Leader John Thune has filed a cloture motion that sets up a September 15 vote on the bill.