The US Securities and Exchange Commission is nearing the release of a proposed 'regulation crypto' that will clarify its approach to overseeing the cryptocurrency industry. SEC Chair Paul Atkins announced on Monday that the 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 focus on the Securities Act of 1933 and will address issues related to fundraising and startup exemptions.
Atkins also revealed that the SEC plans to introduce an innovation exemption soon, which aims to foster experimentation within a framework that does not disadvantage established companies. The SEC Chair emphasized the importance of congressional support, encouraging the audience to engage in the upcoming election to ensure that cryptocurrency-friendly representatives are elected.
Atkins expressed confidence that the SEC's rulemaking process will continue despite potential congressional interference.