The US Securities and Exchange Commission is on the verge of introducing a cryptocurrency regulation that will clarify its stance on the industry, particularly in regards to transactions that may be classified as securities. As announced by SEC Chair Paul Atkins, the proposed regulation is currently under review by the White House Office of Information and Regulatory Affairs, marking the final step before its publication.
Atkins revealed that the regulation will focus on the Securities Act of 1933, covering fundraising and startup exemptions, among other key issues. He also mentioned that the SEC plans to release its long-awaited innovation exemption soon, which aims to facilitate experimentation within a defined framework without unfairly disadvantageing established companies. Atkins emphasized the importance of congressional support, encouraging the audience to engage in the upcoming election to ensure a favorable regulatory environment for the crypto industry.