The SEC (U.S. securities regulator) canceled a public meeting scheduled for Friday that was set to review a tailored issuance framework for crypto asset investment contracts. The agency said the meeting was called off because of "unforeseen scheduling issues" and did not provide further details. The move came after the Senate entered its August recess without a full-chamber vote on the Cryptocurrency Market Structure Act, known as the CLARITY Act, leaving the outlook for crypto market structure legislation more uncertain. SEC Chair Paul Atkins said in a July 27 CNBC interview that if the Senate failed to pass the CLARITY Act, the SEC was "prepared, willing and able" to issue rules for digital assets. With the cancellation landing at the same time as the Senate recess, the market is watching whether the SEC may move ahead with crypto regulation on its own rather than wait for legislation. The CLARITY Act had already missed its pre-recess voting window because of a dispute over who should hold enforcement authority for ethics provisions, making the SEC's next move in the legislative stalemate a near-term focus for the industry.