SEC Proposes Two Exemptions Under New Reg Crypto Framework

The U.S. Securities and Exchange Commission (SEC) has introduced two registration exemptions for certain crypto investment contracts under its new Reg Crypto framework.

The larger exemption allows qualifying issuers to raise up to $75 million in a 12-month period, while the smaller pathway permits offerings of up to $5 million over four years.

Both routes require issuers to provide narrative disclosures based on principles specified in the proposed rules and comply with certain conditions. The SEC has not presented either exemption as an automatic exclusion for all token sales, and each route applies to qualifying crypto investment contracts.