The Securities and Exchange Commission is on the verge of introducing a comprehensive cryptocurrency regulation, which will clarify its stance on overseeing the industry and distinguishing between security transactions and non-security transactions, according to SEC Chair Paul Atkins. Atkins revealed that the proposed regulation, focused on the Securities Act of 1933, is currently under review by the White House Office of Information and Regulatory Affairs, marking the final step before its publication. The upcoming regulation will tackle fundraising and startup exemptions, among other pressing issues. Additionally, the SEC plans to release its long-awaited innovation exemption, aiming to foster experimentation within a well-defined framework without unfairly disadvantageing established companies.
Atkins 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.