The SEC canceled without prior notice a crypto regulation meeting it had scheduled for August. It provided no explanations or a new date.
The market had been expecting guidance after months of legal pressure: the SEC approved Bitcoin and Ethereum ETFs, but it still hasn’t published a clear regulatory framework. Instead of moving forward with consistent rules, the agency has chosen silence.
That meeting was set to cover key topics: criteria for classifying tokens as securities, custody requirements for exchanges, and possible exemptions. Everything that remains in legal limbo today.
The cancellation isn’t isolated. The White House announced a meeting with crypto executives for August 19, the Senate postponed the vote on the CLARITY Act until September, and the SEC reviewed six leveraged commodity ETFs without rejecting them outright.
Everything points to the agency waiting for something: it could be election pressure (2024 is an election year), a litigation strategy, or simply that they don’t have a plan.
Bitcoin is trading at 64.7K, with a bullish bias in the short term but bearish on the yearly timeframe. The Fear Index rose from 31 to 41 in 24 hours.
Do you think the SEC is waiting for the election outcome to define its position, or does it simply not have a clear plan for crypto? Share your take in the comments.
#SECCancelsCryptoRulemakingMeeting
The market had been expecting guidance after months of legal pressure: the SEC approved Bitcoin and Ethereum ETFs, but it still hasn’t published a clear regulatory framework. Instead of moving forward with consistent rules, the agency has chosen silence.
That meeting was set to cover key topics: criteria for classifying tokens as securities, custody requirements for exchanges, and possible exemptions. Everything that remains in legal limbo today.
The cancellation isn’t isolated. The White House announced a meeting with crypto executives for August 19, the Senate postponed the vote on the CLARITY Act until September, and the SEC reviewed six leveraged commodity ETFs without rejecting them outright.
Everything points to the agency waiting for something: it could be election pressure (2024 is an election year), a litigation strategy, or simply that they don’t have a plan.
Bitcoin is trading at 64.7K, with a bullish bias in the short term but bearish on the yearly timeframe. The Fear Index rose from 31 to 41 in 24 hours.
Do you think the SEC is waiting for the election outcome to define its position, or does it simply not have a clear plan for crypto? Share your take in the comments.
#SECCancelsCryptoRulemakingMeeting