More drama in Washington’s ongoing crypto policy debate unfolded Friday when the Securities and Exchange Commission abruptly canceled a meeting that would have kicked off the formal rulemaking process for a new framework governing crypto fundraising in the United States, known as Regulation Crypto Assets.

The meeting had been announced just three days earlier and was widely viewed as the securities regulator taking the initiative to lay the groundwork for clearer crypto rules while the industry’s marquee legislation, the Clarity Act, remains in limbo until lawmakers return from recess in mid-September.

An SEC…