The U.S. Securities and Exchange Commission has paused development of a proposed crypto fundraising framework, according to sources familiar with the matter, despite the agency publicly citing an unforeseen scheduling issue.
Sources point instead to two underlying factors behind the delay. Wall Street trade group SIFMA has raised a legal threat over the framework, and the administration is reportedly waiting to see whether the Clarity Act passes in September before moving forward.
The SEC has not detailed the substance of the framework publicly beyond confirming the pause. The scheduling explanation offered by the regulator contrasts with the account given by sources, who tie the delay directly to industry pushback and pending legislation.
