US securities regulator cancels meeting to vote on crypto rules
The proposal would create three pathways for token projects, including a startup exemption that could let early-stage teams raise up to $5 million.
- On Friday, the SEC abruptly canceled an open meeting scheduled for August 14, 2026, that would have voted on a new crypto rulemaking framework. An agency spokesperson cited an 'unforeseen scheduling issue' for the delay.
- Commissioner Hester Peirce, the SEC's most prominent advocate for crypto regulatory clarity, plans to leave in November 2026. Her departure creates urgency to publish the proposal while the current commission composition still favors the rulemaking effort.
- Regulation Crypto would create three legal pathways for token issuers: a startup exemption allowing approximately $5 million raises over four years, a fundraising exemption permitting up to $75 million annually, and an investment contract safe harbor for sufficiently decentralized tokens.
- This rulemaking arrives as The CLARITY Act stalled in the Senate with diminishing odds of passage. Senate Majority Leader John Thune filed cloture for a September 15 procedural vote, though legislative chances remain uncertain.
- The SEC proposal cannot replace comprehensive legislation, which alone can define jurisdictional boundaries between the agency and the CFTC. The commission must now reschedule the pivotal vote while markets await clarity on regulatory authority.
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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 comm…
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