Crypto▼ Bearish
SEC Cancels Reg Crypto Proposal Meeting, No New Date
The SEC cancelled its planned Friday meeting to propose Regulation Crypto, delaying a framework for tokenized securities. No new date was set, leaving the industry in limbo.
Continue with
The U.S. Securities and Exchange Commission was set to propose its first major digital-assets rulemaking at a Friday meeting. The agency cancelled the session in a brief statement Thursday evening, saying only that it was "due to an unforeseen scheduling issue." No new date was given.
The proposal, known internally as Regulation Crypto, was expected to open a limited framework for issuing crypto securities without triggering full SEC registration requirements. It would also allow issuers to later transition out of the agency's oversight, according to people familiar with the draft. SEC Chairman Paul Atkins had described the effort as "a tailored offering regime for certain investment contracts" and made it a centerpiece of his digital-assets regulatory plan.
Until formal rulemaking begins, including public notice-and-comment periods, the agency has relied on a series of policy statements to clarify its stance on digital assets. Crypto insiders also expected the SEC to push forward with an "innovation exemption" for tokenizing securities. That effort now also appears delayed, according to two people familiar with the agency's thinking.