SEC Unveils New Crypto Rules, Allowing Up to $75 Million in Exemptions

The US Securities and Exchange Commission (SEC) has unveiled new rules for crypto assets, dubbed 'Regulation Crypto Assets', which aim to provide a clearer path for issuers to raise capital under federal securities law.

The proposal includes two new exemptions: the 'startup exemption' allows issuers to raise up to $5 million over four years without registering the offering, while the 'fundraising exemption' permits raises of up to $75 million within 12 months, with ongoing reporting duties and narrative disclosures required.

SEC Chairman Paul Atkins described the package as a 'minimum effective dose' of oversight, protecting investors while leaving room for innovation. The proposal has been met with a largely warm reception from industry leaders, who praise it as a step towards tailored regulatory clarity.

The SEC's move comes after the US Senate failed to advance the Digital Asset Market CLARITY Act (H.R. 3633) before its summer recess, which would have split oversight of digital assets between the SEC and the Commodity Futures Trading Commission.