The Securities and Exchange Commission is nearing the release of a proposed 'regulation crypto' that will outline its approach to overseeing the crypto industry, including distinguishing between transactions that may be securities and those that are not, according to SEC Chair Paul Atkins. Atkins stated that the proposal, which is currently under review by the White House Office of Information and Regulatory Affairs, will focus on the Securities Act of 1933 and address fundraising and startup exemptions. The SEC also plans to release its long-awaited innovation exemption soon, which aims to facilitate experimentation without disadvantaging existing companies.
Atkins emphasized the importance of congressional support, encouraging audience engagement in the upcoming election to ensure that crypto-friendly representatives are elected.