SEC Pivots on Crypto Regulation as Clarity Act Lingers

The Clarity Act's holdup has sparked action from the SEC and CFTC. They are advancing a new framework for using crypto tokens to raise capital, which can exist independently of the Clarity Act.

SEC Chairman Paul Atkins said actual legislation is still necessary to create durable rules that last through future administrations. The proposed exemptions in the new rule would exempt token sales of up to $5 million over four years and $75 million a year from registration under the Securities Act of 1933.

The SEC's permanent digital-asset rule, proposed on August 18, aims to govern the crypto industry. However, the Clarity Act remains pending, with a procedural vote scheduled for September 15 in the Senate. If it passes, it would significantly boost the market.