US SEC Panel Passes 'Crypto Asset Regulation' Proposal as Bitcoin Rallies Toward $65,000

Bitcoin price chart, Source: TradingView

On August 18, the U.S. Securities and Exchange Commission (SEC) officially passed a new regulatory proposal named the "Crypto Asset Regulations". This regulatory framework, tailored specifically for the crypto industry, is viewed by the market as a major turning point in the U.S. regulatory system, shifting from past "regulation by enforcement" to clear guidance toward legal compliance.

The biggest highlight of the "Crypto Asset Regulations" is its exemption clauses and new fundraising pathways, which significantly lower the threshold for startup crypto projects to legally raise funds and issue assets in the U.S. The proposal establishes two major securities registration exemption mechanisms: allowing compliant projects a one-time fundraising exemption of up to $5 million within 4 years, and allowing large-scale projects an issuance exemption of up to $75 million every 12 months.

In response, SEC Chairman Paul Atkins stated that the new regulations establish a principles-based disclosure system while reducing duplicate and overlapping state securities regulation restrictions, attracting crypto companies to bring innovative businesses back to the U.S. However, the rebound in Bitcoin's price has been very limited, as the market is still waiting for a stronger catalyst—the "Clarity Act".