SEC Cancels Vote on Proposed Crypto Regulation

The U.S. Securities and Exchange Commission abruptly canceled a scheduled meeting on Friday, August 14, to consider proposing its first major cryptocurrency-specific rule, citing an unforeseen scheduling issue. The cancellation delays the start of formal rulemaking for a tailored offering regime that would have allowed certain crypto startups to raise capital under a limited exemption from traditional securities registration. No new date for the meeting has been announced.

The SEC had planned for commissioners to vote on whether to publish a proposal for public comment, not to adopt final rules. An affirmative vote would have initiated a formal review process for what the agency called "Regulation Crypto." The proposal was expected to outline a framework for investment contracts involving crypto assets, potentially creating exemptions that would let qualifying developers raise funds without immediately complying with the full securities registration framework. SEC Chair Paul Atkins had previously suggested the rule could include a four-year startup exemption with a possible $5 million fundraising cap, alongside a broader pathway with a higher annual limit.