The chairman of the SEC retracted the previous timeline stating that the "crypto innovation exemption" would be announced this month

According to market news, the chairman of the U.S. Securities and Exchange Commission (SEC), Paul Atkins, has retracted the previous timeline regarding the "crypto innovation exemption" that was expected to be announced this month, and when asked about the timing, he declined to commit to releasing final rules this month or even next month.

He stated that the SEC is still studying the details and is taking a cautious approach, emphasizing that the progress of the crypto market structure bill currently under consideration by Congress may also affect the timing of the exemption rules. These proposed exemption rules are intended to provide assurances for companies in specific crypto areas such as tokenized securities and DeFi, allowing their related activities to be free from SEC enforcement actions. Atkins had previously expressed hope that the rules would be released in January, but at an event co-hosted with the CFTC this Thursday, he changed his tone, stating that "we need to think twice" and expressed a desire to see Congress provide clear direction.