Overview
- The SEC’s Regulation Crypto Assets package, which Chair Paul Atkins said Monday is now at the White House’s Office of Information and Regulatory Affairs, enters the last step before publication in the Federal Register.
- One plank is a startup exemption that would let early projects raise money over four years with lighter disclosure, giving teams time to build before full securities rules apply.
- A separate fundraising exemption would allow issuers to raise capital within a 12‑month window while preserving access to other existing registration exemptions under federal law.
- The plan includes an investment‑contract safe harbor meant to let certain tokens leave securities status once a project team steps back from the managerial efforts it promised to investors.
- Separately, the SEC is preparing a DeFi‑focused innovation exemption under the 1934 Act and coordinating with the CFTC under a new MOU, with Atkins urging industry feedback and noting that congressional action would provide more durable clarity.