SEC faces pressure over crypto rulemaking delay

• A former SEC official said the agency is unlikely to issue major crypto rules soon.
• The comments came as lawmakers debate the proposed CLARITY Act.
• The debate highlights ongoing uncertainty around crypto regulation in the United States.

A former US Securities and Exchange Commission official said the agency is unlikely to issue major crypto regulations soon, as lawmakers continue debating the CLARITY Act.

The comments came during a discussion about the SEC’s rulemaking process and the proposed legislation.

The former official said the SEC may wait for Congress to provide a clearer legal framework before introducing new crypto rules.

The CLARITY Act would seek to define how digital assets are regulated and which agencies oversee different parts of the market.

The debate reflects continued uncertainty over crypto regulation in the United States and the SEC’s role in the sector.

The SEC has faced criticism from parts of the crypto industry over how it applies existing securities laws to digital assets.

Congress continues to consider crypto legislation that could change the regulatory framework for digital assets in the United States.