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The U.S. Securities and Exchange Commission (SEC) said Monday it will hold an open meeting this Friday, August 14, to consider proposing new rules that would create a tailored offering path for certain crypto investment contracts.<\/p>\n
The announcement lands just days after the Senate pushed its next procedural vote on the CLARITY Act to mid-September, leaving federal regulators to press ahead on their own while lawmakers work out what’s left of the bill’s disputes.<\/p>\n
Friday’s vote only decides whether the agency issues a proposal, not whether it becomes law. Attorney Anne Kelley pointed out<\/a> that a formal proposal would still need to clear a public comment period, economic analysis, possible revisions, and a separate final vote, a process that has typically taken major SEC rules somewhere between twelve and eighteen months from start to finish.<\/p>\n Still, she called it “welcome progress,” noting the agency is choosing to act rather than sit and wait on Congress.<\/p>\n In March, the SEC and CFTC issued a joint interpretation that set out a five-category token taxonomy and defined when a crypto investment contract begins and ends.<\/p>\n And while the meeting notice<\/a> did not mention the interpretation, crypto investor Mark Chadwick believes<\/a> it will eventually lead to rules that would let projects sell tokens to buyers expecting profit from the team’s work without going through the full weight of IPO-style registration.<\/p>\n Coinbase’s chief policy officer, Faryar Shirzad, wrote<\/a> that the effort shows “the work of bringing clear rules to digital assets isn’t waiting on Congress.”<\/p>\n Separately, the CFTC said its new Innovation Advisory Committee, with representatives from Coinbase, Ripple, Robinhood, Kraken, Gemini, Polymarket, Kalshi, CME, and Nasdaq, holds its first meeting on August 20.<\/p>\n Senate Majority Leader John Thune filed<\/a> cloture early Saturday on the motion to proceed to the CLARITY Act, setting up a procedural vote for September 15, the day after the chamber returns from recess. It’s a test of whether the bill can formally move forward, not a vote on its contents, and it still needs 60 votes to clear.<\/p>\n Bill sponsor Cynthia Lummis didn’t hide her exasperation after the earlier delay, saying,<\/a> “You all know me and how long and hard I’ve fought for this bill, so you know how frustrated I am.”<\/p>\n Negotiators still have to sort out disagreements over the bill’s stablecoin yield language, an issue that resurfaced after banks pushed to change the wording, plus a bipartisan ethics agreement tied to Trump’s crypto holdings. The President told<\/a> Punchbowl News he wasn’t against a blind trust but objected to being treated differently from other lawmakers.<\/p>\n Michael Saylor, never one to stray from his usual talking point, said<\/a> Bitcoin doesn’t need CLARITY even if the country does. Meanwhile, Grayscale has floated<\/a> its own plan, arguing regulators can still tackle custody, tokenized securities, and trading rules on their own if Congress can’t get the bill done this year.<\/p>\n The post SEC Plans Vote on New Crypto Investment Contract Rules as CLARITY Act Stalls<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n\nThe CLARITY Act’s Longer Road<\/h2>\n
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