The U.S. Securities and Exchange Commission (SEC) has proposed a new regulatory framework for crypto assets, marking a major shift in the regulation of the industry under President Donald Trump’s administration.
The proposal would create exemptions from some U.S. securities rules for certain crypto companies and token offerings, potentially making it easier for digital-asset firms to raise funds.
SEC Chairman Paul Atkins said the plan would provide crypto entrepreneurs and market participants with clearer ways to raise capital under federal securities laws.
Under the proposal, eligible crypto companies could receive a one-time exemption allowing them to issue up to $5 million in crypto tokens over four years. Another exemption would permit offerings of up to $75 million in a 12-month period, although companies would still have to provide financial statements and meet regular reporting requirements.
The SEC also proposed a safe-harbor provision that could prevent certain crypto assets from being classified as investment contracts if specified conditions are met.
The move comes as efforts in Congress to pass broader cryptocurrency legislation have stalled. Crypto companies have argued for years that many digital tokens are more similar to commodities than securities and therefore should not be subjected to the full range of SEC regulations.
Industry groups welcomed the proposal, saying it could provide greater legal certainty for crypto businesses operating in the United States.
However, some industry executives remain concerned that without legislation from Congress, future administrations could reverse or tighten the SEC's rules.
The SEC said the proposal will be open for public comment for 60 days after publication in the U.S. Federal Register.
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