The United States Securities and Exchange Commission (SEC) extended the comments period for its proposal to amend Rule 3b-16 of the Securities Exchange Act of 1934, which ended June 13. The Blockchain Association and Republican members of the House of Representatives Committee on Financial Services filed last-minute comments.
The amendments proposal, which runs for hundreds of pages, was released in January 2022. It did not mention digital assets. Another lengthy document was released when the comment period was reopened. It did address digital asset platforms. The amendments could profoundly impact the crypto industry, according to observers, and they have drawn numerous negative reactions.