SEC Unveils Plans for Major Crypto Initiatives Amid Clarity Act Stall
The U.S. Securities and Exchange Commission (SEC) is gearing up to introduce two significant crypto initiatives, despite the Clarity Act facing a stall in Congress.
The regulator will hold an open meeting on August 14 to consider proposing new rules for tailored offering regimes involving certain investment contracts with crypto assets.
The agency is also planning to unveil its innovation exemption for trading digital versions of securities, which could reshape the American stock market and enable around-the-clock trading of stock tokens on blockchains.
This move has major implications for traditional brokerages like Charles Schwab and Morgan Stanley's E*Trade, as they face competition from crypto firms such as Coinbase, Kraken, and Robinhood.