SEC Proposes New Crypto Exemptions for Offerings Up to $75M

The U.S. Securities and Exchange Commission (SEC) has proposed its first major permanent rule governing crypto assets, offering companies two new routes to sell crypto securities without meeting full requirements.

The proposal, called Regulation Crypto Assets, creates a framework for issuers seeking to raise capital through digital assets while setting disclosure and reporting requirements based on the size of an offering.

The SEC proposes exemptions for offerings up to $75 million during each one-year period. Issuers using either exemption would have to provide investors with principles-based narrative disclosures.

The proposal also addresses when a digital asset stops being tied to an investment contract, providing a safe harbor once an issuer has completed or permanently ceased all essential managerial efforts.