SEC Approves Crypto Asset Regulation Proposal with Conditional Safe Harbor

The US Securities and Exchange Commission (SEC) has approved a proposal to regulate crypto assets. This move comes after canceling last Friday's open meeting, which was meant to discuss this very topic. The new framework allows certain offerings up to $5M over four years or $75M annually without registration.

Additionally, the SEC is creating a conditional safe harbor once managerial efforts end. This means that select state rules will be preempted before a 60-day comment period. The approval was granted via seriatim vote.