The U.S. Securities and Exchange Commission is set to hold an open meeting at 10 a.m. Eastern Time on Aug. 15 to decide whether to release a proposed tailored offering regime for certain crypto-related investment contracts, a move that would begin a formal rulemaking process for how some token-linked offerings could be sold under securities law. If commissioners vote to advance the item, the proposal would be published for public comment and could later be revised, adopted or withdrawn, meaning any final framework remains months away. The proposal is described as a separate offering framework that reflects the characteristics of crypto investment contracts rather than applying existing securities rules without modification. The meeting also lands as Congress struggles to advance the CLARITY Act before the Senate's August break, raising doubts about whether the crypto market structure bill can become law this year. Senate Republicans plan to test the legislation with a Sept. 15 cloture vote, but disagreements over ethics restrictions, stablecoin rewards and enforcement powers remain unresolved. SEC Chair Paul Atkins has described rulemaking as a fallback if Congress does not move the bill, saying in a July interview that the agency could address many of its key market structure issues while noting that legislation would offer clearer, longer-term direction for digital asset regulation.