The U.S. Securities and Exchange Commission is set to propose a new crypto rule as soon as this month that would shield crypto businesses from securities regulatory demands. The proposal, known as “Regulation Crypto”, would establish temporary exemptions from registration for developers and allow a certain amount of fundraising. It would also set up a safe harbor for issuers that are backing away from managerial efforts over a security. According to SEC Chairman Paul Atkins, the agency is working to create clear rules for capital raising with crypto assets and provide clarity on how market participants can custody and facilitate trading of tokenized securities. The SEC has been a key player in the industry’s regulatory hopes, and this proposal marks one of the first significant moves on behalf of crypto businesses. The agency is also working on an approach to foster tokenized securities and has established a wide range of staff statements and guidance on crypto.
Regulatory Agenda
The SEC agenda includes other consequential crypto rules, including ones governing asset custody and crypto market structure. The proposal is still under review at the White House Office of Information and Regulatory Affairs and is slated for July.
Market Trends
The stablecoin market cap fell to $312B in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B
Based on reporting from crypto.news.
