The US Securities and Exchange Commission is on the verge of introducing a regulatory framework for the cryptocurrency industry, dubbed 'reg crypto', which aims to clarify the boundaries between transactions that may be classified as securities and those that are not. As announced by SEC Chair Paul Atkins on Monday, this proposal is currently under review by the White House Office of Information and Regulatory Affairs, marking the final step before its publication. The proposed regulation will center on the Securities Act of 1933, addressing key issues such as fundraising and exemptions for startups. Atkins also hinted at the upcoming release of the long-awaited innovation exemption, which is designed to foster experimentation without favoring established players over new entrants.
He emphasized the importance of congressional support, urging the audience to participate in the upcoming election to ensure a favorable regulatory environment.