The Securities and Exchange Commission is nearing the release of a proposed 'regulation crypto' that will outline its approach to overseeing the cryptocurrency industry, including guidelines for distinguishing between transactions that are securities and those that are not, as announced by SEC Chair Paul Atkins on Monday. The proposed regulation, which is currently under review by the White House Office of Information and Regulatory Affairs, will focus on the Securities Act of 1933 and address issues related to fundraising and startup exemptions.
Atkins also announced that the SEC plans to introduce an innovation exemption soon, which aims to facilitate experimentation and innovation in the industry without disadvantaging established companies. The SEC Chair emphasized the importance of Congressional support for the agency's rulemaking process, encouraging the audience to engage in the upcoming election to ensure that crypto-friendly representatives are elected.