SEC Cancels Meeting on Crypto Rule Proposal; Legislative Process Stalls

According to Decrypt, the U.S. Securities and Exchange Commission (SEC) has canceled its publicly scheduled meeting for this Friday. The meeting was originally intended to involve a vote by three commissioners on whether to seek public comment on a tailored exemption framework for crypto asset offerings—a move that would mark the SEC’s first step toward dedicated legislation for the crypto industry. The SEC spokesperson cited “unforeseen scheduling conflicts” as the reason for cancellation and did not announce a new date. Meanwhile, the U.S. Senate adjourned last Saturday without advancing the Clarity Act. Predictive market data from Myriad indicates that the probability of the bill being enacted by the end of 2026 is only 20%. Notably, the Commodity Futures Trading Commission (CFTC) will still proceed with its inaugural Innovation Advisory Committee meeting on August 20, with agenda items including the “evolution of crypto regulation” and artificial intelligence. However, this meeting will only produce recommendations and carries no legislative authority.