NASHVILLE, Tenn. — The Securities and Exchange Commission is on the verge of introducing a comprehensive 'regulation crypto' framework, which aims to clarify its stance on the crypto industry and distinguish between transactions that qualify as securities and those that do not, as stated by SEC Chair Paul Atkins on Monday. The proposed regulation, currently under review by the White House Office of Information and Regulatory Affairs, is one step away from publication and will focus on the Securities Act of 1933, covering fundraising and startup exemptions, among other key issues, Atkins explained at an event co-hosted by Vanderbilt University and the Blockchain Association. Following his address, Atkins informed CoinDesk that the SEC also plans to release its highly anticipated innovation exemption soon, seeking feedback on its functionality and potential problems.
He emphasized that this exemption is designed to promote experimentation without unfairly disadvantageing established companies, instead encouraging innovation within a defined framework. Throughout his discussion, Atkins highlighted the crucial role of Congress, noting that the SEC's rulemaking process is well underway, regardless of congressional actions. Atkins stressed the importance of audience engagement in the upcoming election, citing Senator Bernie Moreno as an example, and warned that a shift in congressional direction could hinder progress and create uncertainty, underscoring the need for supportive representatives in Congress.