NASHVILLE, Tenn. — The Securities and Exchange Commission is close to proposing a “regulation crypto” fleshing out its approach to overseeing the crypto industry and drawing lines between transactions that might be securities and where they aren’t, the agency’s head said Monday.
SEC Chair Paul Atkins said the commission’s new reg crypto is in front of the White House Office of Information and Regulatory Affairs, meaning it’s one step away from being published. This rulemaking is focused on the Securities Act of 1933 and will address fundraising and startup exemptions, among other issues, he said Monday at an event hosted by Vanderbilt University and the Blockchain Association.
He told CoinDesk after his question-and-answer session that the SEC also intends to put out its long-awaited innovation exemption soon.
“We’d love to have reactions and everything else,” he said. “It’s not a rule as such but obviously we need to know how it’s functioning and if people have problems with it or not.”
One aspect to this exemption, he said, is that it wouldn’t disadvantage incumbents and focus solely on startups.
“We want people really to experiment within [that] framework,” he said.
Midterm watch
At multiple points during his talk, Atkins pointed to Congress’s role, saying that his agency’s rulemaking process was well underway despite whatever Congress may do.
“I think we have enough of a runway now, even notwithstanding what may happen in the midterms — although I really still want a friendly Congress obviously — they can throw tacks on the road in front of our tires but they’re not going to really slow us down.”
Atkins also said the audience needed “to be engaged in this upcoming election,” pointing to Senator Bernie Moreno as an example.
“To have Congress really veer off track is not going to any of us any good, and it’s going to put a lot more questions into the future because people then just have ‘oh gosh, maybe this is again a passing phase,’” he said. “We’ve got to make sure that your friends are in Congress. I think you saw how that really paid benefits in the last election.”
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
SEC Crypto Shift Clarifies Rules Without Blanket Approval
The SEC has adopted a more lenient stance on crypto regulation, allowing some interfaces to operate without broker-dealer registration, but has not given blanket approval for the industry. Recent guidance clarifies how crypto assets are categorized, emphasizing that federal securities laws apply mainly to digital securities. Enforcement activity has decreased as the agency focuses on fraud and market integrity.
CryptoFrontier1h ago
Polish lawmakers want to overturn the president’s veto of the cryptocurrency bill but failed again in their latest attempt to push it through.
Poland’s parliament failed to override the president’s veto of the cryptocurrency regulatory bill, stalling the process of digital-asset legislation and making it one of the few countries in the EU that has not yet implemented the MiCA framework. Differences between the president and the government over the bill’s content led to a political stalemate, affecting market confidence and legal transparency.
ChainNewsAbmedia2h ago
Polish Parliament Fails to Override President's Veto on Crypto Law; PM Alleges Russian Interference
Polish lawmakers failed to override President Nawrocki's veto on a cryptocurrency regulation bill aimed at aligning with EU standards. Tensions rise as accusations emerge of Russian influence in a major crypto exchange amid liquidity issues and lack of regulation.
GateNews4h ago
White House Mediates Clarity Act Stablecoin Dispute, Witt Reveals Legislative Timeline
Patrick Witt announced at the Solana Policy Institute summit that the White House mediated a stablecoin dispute to advance the Clarity Act. The compromise allows banks and crypto firms to together address regulatory concerns, with future focus on crypto taxation and blockchain integration strategies among financial institutions.
GateNews11h ago
Hong Kong SFC Investment Committee Warns Prediction Market Trading May Constitute Illegal Gambling
The Hong Kong SFC warns that prediction markets are speculative and not investment products, lacking regulatory protection. They involve gambling elements, potentially making them illegal. The committee urges the public to differentiate between investment and gambling.
GateNews13h ago
Economist Proposes National USD Stablecoin to Eliminate Currency Controls in Venezuela
Alejandro Grisanti, head of Ecoanalitica, proposed issuing a national USD stablecoin as part of a series of measures to lift currency controls in Venezuela. This system would complement the current auction system, allowing the excluded sector to receive dollars via blockchain rails.
Key
Coinpedia15h ago
