SEC Proposes Two-Tier Crypto Fundraising Framework with $75M Exemption

The U.S. Securities and Exchange Commission (SEC) has proposed new rules for crypto fundraising, aiming to provide clearer pathways for digital-asset projects to raise capital without full registration.

The proposal, called 'Regulation Crypto Assets,' would establish separate routes for early-stage projects and larger issuers seeking public capital. The framework combines higher fundraising limits with disclosure, reporting, antifraud, and antimanipulation requirements tailored specifically for crypto offerings.

Tier 1 would permit qualifying issuers to raise up to $20 million during any 12-month period without completing traditional Securities Act registration. Tier 2 would lift that ceiling to $75 million, making it the largest fundraising route included in the proposed framework.