SEC To Meet On Regulation Crypto: Crypto Asset Exemption

Tomorrow the Commission will meet ot discuss, and potentially approve “Regulation Crypto.”

An open meeting is scheduled for August 14 at 10 AM ET.

According to the agenda, the Securities and Exchange Commission (SEC), Division of Corporation Finance, will present new rules for a bespoke “offering regime for certain investment contracts involving crypto assets.” While the Senate has struggled to approve the CLARITY Act, crypto market infrastructure legislation, the SEC is pursuing a path that establishes rules without Congress. The only fear here is that if Democrats gain control of the legislature, they could undermine gains made during a Republican administration. A vote on the bill is scheduled for next month.

The SEC, under the leadership of Chairman Paul Atkins, has taken an approach of embracing digital asset innovation. Unlike his predecessor, former Chair Gary Gensler, Atkins has frequently spoken about the need for new crypto rules, while proposing an “innovation exemption.” While Gensler pursued a strategy of regulation by enforcement for crypto, Atkins is poised to become a transformational individual in the securities and digital asset sector by providing regulation that aims to safeguard consumers and businesses while acknowledging technological change is inevitable.