The U.S. Securities and Exchange Commission has postponed a meeting that had been expected to unveil its proposed "Reg Crypto" framework for crypto issuance, and it did not provide a new date. According to CoinDesk, the delay also appears to have caught another closely watched item: an "innovation exemption" for tokenized securities that the market had been watching for as soon as this week.
The move runs against expectations set only days earlier, when the market was still waiting for the two measures to arrive in sequence.
Reg Crypto meeting postponed, tokenization exemption absent from agenda
Reg Crypto was expected to create an issuance framework tailored to certain investment contracts involving crypto assets. The idea was to address how crypto projects could raise capital while complying with federal securities laws.
Previous reporting from ChainCatcher had said the SEC was preparing to roll out the framework. Market chatter had also pointed to a possible innovation exemption for tokenized stocks as soon as this week, potentially allowing 24/7 on-chain stock trading.
With the meeting now delayed and no new date announced, the published agenda also does not separately list the tokenization exemption.
Delay linked to coordination around the CLARITY Act
The reported reason points to coordination with Congress over the CLARITY Act. Provisions related to tokenization are still being discussed, and the concern, according to the report, is that if the SEC were to move first with its own exemption, it could disrupt consensus forming around those parts of the bill.
That means the measure could remain on hold until the direction of the CLARITY Act becomes clearer. In that framing, the SEC is not rejecting tokenization. It is waiting for legislation to develop before advancing administrative rulemaking, so its approach does not conflict with Congress's version.
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