The SEC published a crypto fundraising proposal that drops any mandatory lockup for insiders, allowing them to sell as soon as their tokens are no longer restricted. The Senate’s CLARITY draft, introduced on July 22, would instead require a minimum 12-month holding period before network certification, then an additional six months afterward. The SEC proposal relies on disclosure and sale caps at 30 % of the total amount raised, without blocking early exits. Both texts define insiders differently, but agree the risk exists, differing only on who must bear it: the informed buyer or the insider facing a deadline.
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