The Securities and Exchange Commission is on the verge of proposing a comprehensive regulatory framework for the cryptocurrency industry, SEC Chair Paul Atkins announced on Monday. This framework, currently under review by the White House Office of Information and Regulatory Affairs, aims to clarify the distinction between transactions that are considered securities and those that are not. Atkins emphasized that the proposal will focus on the Securities Act of 1933 and will address exemptions for fundraising and startups.
Additionally, the SEC plans to introduce an innovation exemption, which will allow for experimentation within a specified framework without disadvantaging established companies. Atkins stressed the importance of congressional support, encouraging the audience to engage in the upcoming election to ensure a favorable regulatory environment.