SEC Cancels Friday Vote On Crypto Rules, Citing Unforeseen Scheduling Issue: 18 outlets compared

SEC cancels crypto vote

The U.S. Securities and Exchange Commission abruptly canceled a meeting scheduled for Friday on whether the agency should propose new crypto-related rules, moving it “due to an unforeseen scheduling issue,” according to an SEC spokesperson cited by Reuters.

“due to an unforeseen scheduling issue”

The meeting had been set for commissioners to vote on proposing “a tailored offering regime for certain investment contracts involving crypto assets,” a first crypto-specific rulemaking aimed at exemptions that would allow crypto startups to raise capital without complying with traditional securities offering rules.

Reuters reported the cancellation came after the Senate left Washington on Saturday for a five-week recess without voting on the industry’s top legislative priority, the Clarity Act, with the bill’s next procedural test not expected until September.

Under SEC Chair Paul Atkins, the agency has reversed its crypto policy and laid out plans to overhaul capital markets regulations to accommodate tokens and blockchain-based trading, including a March suggestion of a safe harbor and a “fit-for-purpose startup exemption.”

No replacement date

The SEC’s formal notice, issued under the Sunshine Act and signed by SEC secretary Vanessa Countryman, recorded only that the meeting “has been cancelled,” with no mention of a new date.