SEC · CLARITY Act · US Congress · Democrats · Bitcoin Magazine
SEC Proposes Crypto Rulebook as Clarity Act Stalls
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Regulators are pushing ahead with legislation despite the Clarity Act stalling.
Key facts
- The second permits up to $75 million in any 12-month period, but comes with financial statements and ongoing reporting obligations
- Tuesday’s proposal carves out two exemptions from registration under the Securities Act of 1933
- The Securities and Exchange Commission has proposed its own framework for crypto asset offerings, pressing ahead while landmark legislation stalls
- Regulators are pushing ahead with legislation despite the Clarity Act stalling
Summary
The Securities and Exchange Commission has proposed its own framework for crypto asset offerings, pressing ahead while landmark legislation stalls. The regulator unveiled “Regulation Crypto Assets” on Tuesday, a tailored offering regime it says will let token issuers raise money in the U.S. without falling foul of securities laws. Tuesday’s proposal carves out two exemptions from registration under the Securities Act of 1933. SEC Chairman Paul Atkins said the proposal was another step to “onshore innovation in crypto asset markets,” and would give entrepreneurs clear pathways to raise capital “as Congress works to establish a lasting regulatory framework.” That framework is going nowhere fast.