SEC Proposes Clearer Crypto Rules Amid CLARITY Act Uncertainty

SEC Commissioner Hester M. Peirce has hailed the agency's new regulatory proposal as an important step towards clearer and more enforceable digital asset regulations.

The proposal, which creates a 'clear and fit-for-purpose framework for certain investment contracts involving crypto assets', marks a departure from what Peirce called 'inapt' rules that have hindered the industry's growth.

According to Peirce, a whole generation has struggled with the SEC's insistence on applying these inapt rules to cryptocurrencies, and the new proposal aims to put sensible regulations in place for crypto offerings.

SEC Chairman Paul S. Atkins also praised the initiative, stating that the agency's prior enforcement-heavy approach has driven investment offshore, limiting the protections available to investors here.