SEC Cancels Friday Meeting to Propose Regulation Crypto, Innovation Exemption Also Facing Delays

The U.S. Securities and Exchange Commission called off the open meeting at which it planned to propose Regulation Crypto, its first substantive rulemaking for digital assets, less than a day before the session was due to begin. The commission gave no replacement date.

A Sunshine Act notice posted Thursday and signed by SEC Secretary Vanessa Countryman said the meeting scheduled for Friday, Aug. 14, at 10 a.m. had been cancelled.

“The SEC is committed to delivering on the President’s agenda to bring certainty to the crypto space,” an agency spokesperson told Unchained. “Due to an unforeseen scheduling issue, tomorrow’s Open Meeting will be moved to a later date.”

Reg Crypto is expected to open a limited route for issuing crypto assets without triggering agency registration requirements, while allowing projects to eventually step out from under SEC oversight as they decentralize. With the Senate’s Digital Asset Market Clarity Act stalled ahead of the chamber’s brief return next month, the SEC’s meeting plans had raised hope of progress toward clear rules for crypto regardless of what happens in Congress.

The meeting was also expected to include details on the SEC’s “innovation exemption” for tokenized securities. Before the announcement of the cancellation of Friday’s meeting, a source familiar with the matter reportedly told Crypto in America host Eleanor Terrett that the agency was putting off the framework over concerns that it may negatively impact negotiations on the tokenization section of the Clarity Act.

Chairman Paul Atkins has described Reg Crypto as a tailored offering regime for certain investment contracts and a centerpiece of his digital assets plan. In April he confirmed the framework had reached White House review at the Office of Information and Regulatory Affairs. The proposal previously appeared to be on the SEC’s agenda for last month.

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