SEC Unveils Crypto Asset Regulation Proposals
The US Securities and Exchange Commission (SEC) has proposed new rules for crypto assets to provide clarity on how investment contracts involving digital assets are treated under federal securities laws.
The proposed legislation, 'Regulation Crypto Assets', aims to give investors and business leaders a clear approach on how they can raise capital and innovate within crypto asset markets.
According to the SEC Chairman Paul S. Atkins, the new rules will allow offerings of up to $5 million during a four-year period, and offerings of $75 million during a 12-month period. Issuers would be subject to reporting and disclosure requirements.
The public consultation period is open for 60 days following the announcement, allowing stakeholders to provide feedback on the proposed rules.