THE US SEC WILL LAUNCH TWO MAJOR ENCRYPTION INITIATIVES

THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION (SEC) IS PREPARING TO LAUNCH TWO MAJOR ENCRYPTION INITIATIVES, ALTHOUGH CONGRESS IS FACING DIFFICULTIES IN MOVING THE CLEAR BILL FORWARD. THE SEC MAY PUBLISH DETAILS OF THE INNOVATION EXEMPTION FOR MONETIZED SECURITIES THIS WEEK AND PLANS TO CONSIDER A NEW FRAMEWORK FOR SOME ENCRYPTED INVESTMENT CONTRACTS AT ITS FORTHCOMING MEETING. THIS ACTION TOOK PLACE AFTER THE SENATE POSTPONED CONSIDERATION OF THE CLARITY BILL TO SEPTEMBER. THE SEC CONFIRMED THAT IT WOULD CONSIDER WHETHER TO ISSUE THE PROPOSAL AT A PUBLIC MEETING ON 14 AUGUST. BLOOMBERG REPORTED THAT THE SECOND INITIATIVE COULD BE THE INNOVATIVE EXEMPTION OF THE SEC TO ALLOW THE TESTING OF BLOCK CHAIN VERSIONS OF TRADITIONAL SECURITIES. THE MECHANISM PROPOSED BY SEC WOULD ALLOW COMPANIES TO PREVENT THIRD-PARTY TOKENS FROM ISSUING THEIR SHARES. THE CHAIRMAN OF CTC, MICHAEL SELIG, INDICATED THAT THE AGENCY WAS PREPARED TO CONTINUE TO DEVELOP RULES FOR THE ENCRYPTION OF MARKET STRUCTURES. SENATOR ELIZABETH WARREN AND OTHER DEMOCRATS CRITICIZED THE REGULATORY BODIES FOR BEING TOO CLOSE TO THE ENCRYPTION INDUSTRY, ARGUING THAT INSTITUTIONAL RULES DID NOT PROVIDE THE SAME PERMANENCE AS LEGISLATION。