The US Securities and Exchange Commission has proposed two exemptions allowing eligible crypto ventures to raise up to $5 million over any four-year period and up to $75 million per 12-month period. As of August 27, 31 public comments had been filed, but no major exchange, large asset manager, or established token issuer appeared among the visible commenters. Commenters raised issues around the aggregation of fundraising caps, the definition of non-cash compensation, and EDGAR disclosure requirements. The October 20 deadline leaves 54 days to add more positions to the formal rulemaking record.
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