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SEC to vote this week on first major Regulation Crypto proposal
The SEC has scheduled an August 14 meeting to open the proposal for public comment after the Senate left the Clarity Act stalled.
The U.S. Securities and Exchange Commission has set a meeting this week to propose its Regulation Crypto framework, marking the start of what the agency describes as its first major formal crypto rulemaking process.
According to CoinDesk, the SEC has scheduled August 14 for the three member commission, all Republicans, to open the proposal for public comment. The regulator issued a notice with unusually short timing ahead of the vote.
CoinDesk reports the move comes about a week after the U.S. Senate left town without even holding a procedural vote on the Clarity Act, legislation meant to clarify how the SEC and the Commodity Futures Trading Commission can oversee crypto market structure.
CoinDesk also notes the proposal is expected to outline a more regimented path for legal issuance of certain digital assets, including an approach described as a tailored offering regime for certain investment contracts, plus an expected exit path from SEC oversight when firms are no longer actively managing projects.