SEC Chair Says Regulation Crypto Assets Proposal is at OIRA for Review

The U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins announced that a significant proposal for regulating crypto assets has been submitted to the Office of Information and Regulatory Affairs (OIRA) at the White House for review. This "Regulation Crypto Assets" proposal, outlined in March, includes three main components: a startup exemption allowing projects to raise funds with reduced disclosure, a fundraising exemption for issuers raising funds over a period, and an investment contract safe harbor that would protect certain assets from being classified as securities if managerial efforts cease. The SEC aims to foster crypto innovation and provide regulatory clarity, emphasizing the need for market feedback to ensure the rules are workable. The process involves an SEC vote, OIRA review, publication in the Federal Register, and a public feedback period.

(Source：Cointelegraph)