SEC Crypto Regulation Advances to OIRA Review

U.S. Securities and Exchange Commission Chairman Paul Atkins announced Monday that the agency's proposed Regulation Crypto Assets has advanced to the White House Office of Information and Regulatory Affairs for review, marking a key step toward formal publication and public comment.

Speaking at the Digital Assets and Emerging Technology Policy Summit in Nashville, Tennessee, hosted by Vanderbilt University and the Blockchain Association, Atkins described the framework as a means to provide regulatory clarity for cryptocurrency fundraising and asset classification under the Securities Act of 1933. The proposal, first outlined in mid-March, outlines three primary components: a startup exemption allowing early-stage projects to raise a limited amount of capital over four years with reduced disclosure requirements; a fundraising exemption permitting issuers to collect funds up to a specified limit within 12 months while preserving access to other registration exemptions; and an investment contract safe harbor that would exempt certain digital assets from securities classification once project teams end the managerial efforts originally promised to investors.