US securities regulator cancels meeting to vote on crypto rules

On August 13, the U.S. Securities and Exchange Commission abruptly halted a meeting planned for the following day concerning potential new regulations for cryptocurrency. According to an SEC spokesperson, the meeting was postponed due to an unforeseen scheduling dilemma. The SEC had intended to vote on proposing exemptions that would permit crypto startups to raise capital without adhering to conventional securities offering regulations.

This delay transpired following the Senate's departure for a five-week hiatus without casting a vote on the Clarity Act, signaling a potentially bleak outlook for the bill's chances of approval. If enacted, the Clarity Act would establish federal rules specifically tailored to cryptocurrencies, providing companies with a more robust legal framework, according to lobbyists.