The US SEC is considering rules that could let crypto projects raise capital before decentralising, potentially giving open-source blockchain ecosystems a clearer path beyond securities oversight.
The US Securities and Exchange Commission (SEC) will consider its first formal crypto rulemaking on August 14, potentially creating a regulatory pathway for crypto projects to raise capital without full securities registration.
The proposed “Regulation Crypto” framework could provide developers with a regulatory runway to build towards decentralisation, with a key provision potentially allowing projects to exit SEC oversight once founders are no longer actively managing them. This could be significant for open-source crypto ecosystems, where publicly inspectable code, distributed development, and community participation can support decentralisation.
SEC Chair Paul Atkins has advocated an exemption-based approach. In March, he said a startup exemption “could last (say up to four years) and provide developers with a regulatory runway” to reach decentralisation. The SEC has not disclosed proposed fundraising thresholds.
