What are the SEC's plans for new regulations regarding crypto assets? The US Securities and Exchange Commission is set to conduct an open meeting on Friday at 10 a.m. ET to discuss proposing new guidelines aimed at creating a tailored offering regime for specific investment contracts that involve cryptocurrency. This development comes after the Senate did not advance the CLARITY Act before its summer recess, casting uncertainty on the prospect of this significant legislation becoming law in the current year.
Senate Republicans are looking to push this legislation with a cloture vote scheduled for September 15. However, various disagreements persist regarding key issues, including ethics restrictions, rewards associated with stablecoins, and the enforcement powers of regulatory entities.
SEC Chair Paul Atkins has indicated that the commission will pursue its own rulemaking process as an alternative in case Congress does not move forward with the CLARITY Act. In a previous interview, he noted that the SEC could effectively tackle several important market structure concerns embodied in the proposed legislation. Yet, he emphasized that legislation from Congress would offer a clearer and more sustainable framework for the regulation of digital assets.