SEC Unveils Proposed "Regulation Crypto Assets" Framework, Including New Exemptions for Token Fundraising
AI Market Summary
The SEC's proposed "Regulation Crypto Assets" introduces tiered exemptions (up to $5M startup; up to $75M annual fundraising) plus a safe-harbor path for assets to exit securities status once managerial efforts end. The framework would reduce near-term issuance friction and clarify compliance expectations, partially offsetting stalled congressional progress. The 60-day comment window raises event risk around final scope, but signals a more permissive U.S. posture toward regulated crypto capital formation.
Impact level
● High
Affected assets
BTC/USDT+0.43%
AI Insight · BTC/USDTAI Insight
▲ Bullish
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Huoxing Finance reported that the U.S. Securities and Exchange Commission (SEC) on Aug. 19 proposed a new regulatory framework for digital assets titled "Regulation Crypto Assets." The proposal seeks to create a more flexible path for crypto fundraising while maintaining investor protections and easing compliance requirements for certain projects.
SEC Chair Paul Atkins said the rule would establish a "tailored issuance mechanism" intended to support crypto innovation within the existing U.S. securities law regime and to modernize oversight for digital assets.
The proposal outlines two new exemptions. A "startup exemption" would allow digital asset offerings raising up to $5 million to avoid registration under the Securities Act of 1933 for four years. A separate "fundraising exemption" would permit offerings of up to $75 million to be exempt within a one-year period.
The package also includes a safe harbor. If a digital asset satisfies specified conditions and the project team "no longer engages in ongoing managerial efforts," the asset could in the future cease to be treated as a security.
The SEC's move comes as progress has stalled in Congress on the "CLARITY Act," legislation aimed at defining the structure of the U.S. digital asset market. The SEC said the proposed framework would be consistent with prior digital asset guidance issued by the SEC and the Commodity Futures Trading Commission (CFTC).
SEC Commissioner Hester Peirce called the proposal a first step toward a "clear, reasonable, and enforceable" crypto regulatory framework. The rule would be subject to a 60-day public comment period.
