US agencies propose crypto rules after Clarity Act stalls
SEC plans would exempt firms from some securities laws
US agencies have embarked on a ‘legislation by regulation’ approach to crypto assets after a vote on the Clarity Act stalled in the Senate, the upper house of Congress.
On August 18, the US Securities and Exchange Commission (SEC) proposed new crypto regulations that would exempt firms from certain securities laws. On the same day, the Financial Accounting Standards Board (FSAB) proposed standards by which stablecoins could be considered cash-equivalent.
The FSAB’s proposals – which are open to
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