NASAA NEWS AND SPEECHES—NASAA urges SEC to withdraw proposed crypto exemptions

The North American Securities Administrators Association (NASAA) has urged the U.S. Securities and Exchange Commission to withdraw proposed crypto exemptions, according to a VitalLaw.com report. The request was made through NASAA’s news and speeches activity and focuses on SEC proposals affecting the treatment of crypto-related activity under federal securities rules.

NASAA represents state and provincial securities regulators in the United States, Canada and Mexico. State securities regulators play a role in investor protection and enforcement alongside federal agencies, while the SEC oversees U.S. securities markets and applies federal securities laws to issuers, intermediaries and market participants.

The dispute highlights the continuing policy debate over how crypto assets and related businesses should be regulated. Whether a crypto asset or transaction falls under securities law can depend on its specific facts and structure, and regulators have continued to scrutinize how existing rules apply to the sector. NASAA’s position calls for the SEC not to proceed with the proposed exemptions. The report did not provide further details in the available material about the scope of the exemptions or the SEC’s response.