SEC Delays Vote on Exemptions for Crypto Fundraising

In SEC crypto news today, the Securities and Exchange Commission canceled its August 14 open meeting, which had been scheduled to consider whether to propose new crypto-related rules.

An SEC spokesperson said the meeting would be moved due to an unforeseen scheduling issue, and no replacement date was announced.

What the SEC Crypto Meeting Was Supposed to Decide

Commissioners had been scheduled to vote on proposed exemptions that would allow crypto startups to raise capital without complying with traditional securities offering rules. Reuters reported that the SEC said the session would be moved because of an unforeseen scheduling issue, without providing a new date.

Under SEC Chair Paul Atkins, the agency has reversed parts of its previous crypto policy, including rescinding stringent crypto accounting guidance and dismissing lawsuits against Coinbase, Binance and other companies that had alleged the companies were flouting SEC rules. Reuters reported that Atkins has backed the view held by crypto companies that most tokens more closely resemble commodities than securities.

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