The US Securities and Exchange Commission is on the verge of introducing a regulatory framework for the cryptocurrency sector, which will clarify its stance on oversight and distinguish between transactions that qualify as securities and those that do not, as announced by SEC Chair Paul Atkins on Monday. The proposed 'reg crypto' rule is currently under review by the White House Office of Information and Regulatory Affairs, indicating it is close to being published. This regulation, focused on the Securities Act of 1933, will tackle fundraising and startup exemptions, among other key issues. Atkins revealed that the SEC also plans to release its long-awaited innovation exemption soon, aiming to foster experimentation without disadvantaging established companies.
He emphasized the importance of congressional support, urging the audience to participate in the upcoming election to ensure a favorable regulatory environment for the crypto industry.