US securities regulator cancels meeting to vote on crypto rules

On Thursday, the U.S. Securities and Exchange Commission abruptly canceled a meeting scheduled for the following Friday regarding proposed crypto-related rules. According to an SEC spokesperson, the meeting was postponed due to an unforeseen scheduling issue. The agency had planned to vote on recommending highly anticipated exemptions that would permit crypto startups to raise capital without adhering to conventional securities offering rules.

This cancellation follows the Senate's departure for a five-week recess without voting on the Clarity Act, an industry's top legislative priority. If passed, the bill would establish new federal rules specifically for cryptocurrencies, providing companies with a more stable legal foundation, according to lobbyists.