SEC Eases Quorum Rule, Allowing One Commissioner to Advance Crypto Rulemaking

The US Securities and Exchange Commission (SEC) has eased its quorum requirement, allowing a single commissioner under certain conditions to move ahead with rulemaking related to digital assets (cryptocurrencies).
The SEC and the Commodity Futures Trading Commission (CFTC) are currently pursuing regulatory decisions related to the roughly $3 trillion crypto market with a combined three commissioners.
With the Digital Asset Market Structure Act delayed in the US Congress, the SEC and CFTC are pushing ahead with their own rulemaking under existing legal authority, raising the prospect that decision-making power could become concentrated among a small number of commissioners.

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The US Securities and Exchange Commission has relaxed its quorum requirement, allowing a single commissioner under certain conditions to move forward with rulemaking related to digital assets.

Cointelegraph reported on October 13 that the SEC released a final rule on September 30 changing its quorum requirement. The rule took effect on October 2.

Under the revision, one commissioner can constitute a quorum if only two SEC commissioners remain and certain conditions are met. Still, a single commissioner is not allowed to vote on every rulemaking matter.

SEC Eases Quorum Rule, Allowing One Commissioner to Advance Crypto Rulemaking

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