SEC's Crypto "Safe Harbor" Plan Heads to White House OIRA for Final Review

SEC Chair Paul Atkins said the agency's proposed "safe harbor" framework for crypto projects has been submitted to the White House Office of Information and Regulatory Affairs (OIRA), a final step before the rule is formally issued, according to ChainCatcher. The proposal would create a "startup exemption" that lets crypto industry participants raise a specified amount of capital over a four-year period, contingent on meeting certain disclosure requirements. Atkins also outlined an "investment contract safe harbor" intended to align with the SEC's interpretive guidance on token classification released in March. He argued that legislation is needed because it can provide a stronger, more durable regulatory framework than agency rulemaking. Separately, the SEC is evaluating an "innovation exemption" that would function as a regulatory sandbox for onchain assets. The initiative has drawn extensive debate over the past year among crypto advocates and traditional financial institutions. Atkins said the SEC has the authority to move forward with the innovation exemption and will announce its parameters soon, adding that significant work remains.