The Securities and Exchange Commission is on the verge of proposing a new regulatory framework for the cryptocurrency industry, according to Chair Paul Atkins. The proposal, which is currently under review by the White House Office of Information and Regulatory Affairs, aims to provide clarity on the distinction between transactions that constitute securities and those that do not. Atkins emphasized that the regulation will focus on the Securities Act of 1933 and address issues related to fundraising and startup exemptions. Additionally, the SEC plans to introduce an innovation exemption, which will enable experimentation within a predefined framework without disadvantaging established companies.
Atkins stressed the importance of congressional support, urging the audience to engage in the upcoming election to ensure a favorable regulatory environment.