The Securities and Exchange Commission is nearing the release of a proposed 'regulation crypto' that will clarify its stance on the crypto industry, including the distinction between transactions that may be considered securities and those that are not, as announced by SEC Chair Paul Atkins on Monday. The proposed regulation, 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 issues related to fundraising and startup exemptions.
Atkins also mentioned that the SEC plans to introduce an innovation exemption soon, which aims to facilitate experimentation within a defined framework without disadvantaging established companies. The SEC's rulemaking process is underway, despite potential congressional actions, and Atkins emphasized the importance of engagement in the upcoming election to ensure a supportive Congress for the crypto industry.