SEC proposes new crypto rules in absence of CLARITY Act
The US Securities and Exchange Commission (SEC) has proposed new rules that could affect the cryptocurrency industry after lawmakers in Congress failed to pass a market structure bill before breaking for a month-long recess. In a Tuesday notice, the SEC said that the agency proposed rules to create a “clear and fit-for-purpose framework for certain investment contracts involving crypto assets.” According to the regulator, the “tailored securities offering regime” would allow entities to raise capital while preserving investor protections.
Why It Matters
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Key Facts
- Fact 1: “The SEC has and will continue to support Congress in delivering the CLARITY Act to President Trump’s desk.” According to the proposed rules, crypto companies would be offered exemptions allowing the issuance of up to $5 million in tokens during a four-year period and up to $75 million during a 12-month period, as well as a safe harbor exempting cryptocurrencies from being treated as ”investment contracts.” Token issuers would be required to make financial statements and “would be subject to ongoing reporting requirements.“ The public will have 60 days to comment on the proposal after publication in the Federal Register.
- Fact 2: Following the August recess, senators only have 14 days in session before breaking again ahead of the November election.
- Fact 3: If Thune and Republican lawmakers can’t get a floor vote before then, the Senate has another 22 days in session before 2027, when new members of Congress will be sworn in.
- Fact 4: Magazine: Will the crypto lobby’s $189M campaign get CLARITY over the line?
The US Securities and Exchange Commission (SEC) has proposed new rules that could affect the cryptocurrency industry after lawmakers in Congress failed to pass a market structure bill before breaking for a month-long recess. In a Tuesday notice, the SEC said that the agency proposed rules to create a “clear and fit-for-purpose framework for certain investment contracts involving crypto assets.” According to the regulator, the “tailored securities offering regime” would allow entities to raise capital while preserving investor protections.
The agency’s rules did not include an “innovation exemption” for crypto-based stocks, which had also been expected to be announced. Notably, the proposed rules came just days after the US Senate failed to advance the Digital Asset Market Clarity (CLARITY) Act, a bill expected to clarify the roles federal agencies would have in overseeing and regulating crypto. “[L]egislation remains indispensable to enacting ‘future-proofed’ rules of the road that are durable enough to protect the work we are undertaking today from being unwound by a future rogue regulator,” said SEC Chair Paul Atkins.
(Original synthesis pending human/AI review — generated by the stub provider by selecting real sentences from the source material, not by writing new analysis or commentary.)
Original source: Cointelegraph
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