The canceled vote delayed a four-year startup exemption that could have let crypto projects raise up to $5M without full securities compliance.
Crypto founders still must choose: full Reg D/A compliance, offshore fundraising, or operate in ambiguous legal gray zones.
The Senate's delay on the CLARITY Act suggests lawmakers may reshape crypto oversight entirely, making SEC rules potentially obsolete.
SEC leadership's next move and progress on congressional crypto legislation will determine whether streamlined fundraising paths emerge.
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