SEC proposes rules to ease crypto fundraising

• Key takeaway: The Securities and Exchange Commission is proposing two exemptions for certain crypto companies looking to raise capital. The first would allow a one-time offering of up to $5 million over four years, while the second would permit companies to raise up to $75 million in any 12-month period.
• Expert quote: "The SEC continues to support congressional work on the CLARITY Act, and we expect to see the bill reach the president's desk. Under our current statutory authority, we are acting. The work before us is too important." — SEC Chair Paul Atkins
• What's at stake: The SEC proposal comes as Congress works to advance the CLARITY Act, which would establish a comprehensive legal framework for the entire crypto market.

The Securities and Exchange Commission kicked off rulemaking Tuesday to streamline how crypto companies raise money, days after the agency abruptly canceled a meeting where it was expected to consider the proposal.

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The SEC canceled the meeting Friday because of an "unforeseen scheduling issue" and said it would be rescheduled, without providing a new date. The agency instead released the proposed rules Tuesday. 

The proposed rules, dubbed "Regulation Crypto Assets," include two exemptions that would allow certain crypto companies to raise capital without going through the traditional securities registration process.