US SEC Proposes New Crypto Rules With $75M Exemption as CLARITY Act Delays

The U.S. Securities and Exchange Commission has proposed Regulation Crypto Assets, creating new fundraising exemptions that could allow eligible crypto projects to raise up to $75 million annually without full securities registration. The proposal arrives while the CLARITY Act remains stalled in the Senate ahead of a September procedural vote.

The SEC’s August 18 proposal creates two fundraising routes for certain investment contracts involving crypto assets. Chairman Paul Atkins says the framework aims to give crypto companies clearer pathways to raise capital under federal securities laws while Congress continues work on broader market structure legislation.

SEC Crypto Rules Allow $5M and $75M Fundraising Exemptions

The first route, described as a startup exemption, would allow an issuer to raise up to $5 million during a four-year period. Companies using the exemption would still need to provide investors with principles-based disclosures covering relevant information about the offering.

A second fundraising exemption would permit offerings of up to $75 million during each 12-month period. Issuers using that route would face additional requirements, including financial statements and ongoing reporting. Both exemptions would remain subject to federal antifraud and antimanipulation rules.