Key facts
- The U.S. Securities and Exchange Commission plans to propose a new crypto rule as soon as July.
- The rule aims to exempt certain crypto activities from securities regulation.
- It will establish temporary exemptions for developers of crypto investment contracts and allow for fundraising.
- A safe harbor will be created for issuers stepping back from managerial efforts over a security.
- SEC Chairman Paul Atkins stated the goal is to support innovation and capital raising in the U.S. crypto market.
The U.S. Securities and Exchange Commission (SEC) is preparing to unveil its first significant rule aimed at the cryptocurrency industry, with a proposal expected as early as July. This initiative, referred to as "Regulation Crypto," is designed to offer temporary exemptions from securities registration requirements for developers of crypto investment contracts, facilitate a defined level of fundraising, and establish a safe harbor for issuers who are reducing their managerial involvement with a security.