The SEC has proposed a new regulatory framework for crypto assets called « Regulation Crypto Assets » that could significantly reshape how digital asset projects raise capital in the United States. The framework would establish two new exemptions allowing issuers to raise either up to $5 million over four years or up to $75 million over any 12-month period. The proposal includes a conditional safe harbor that could allow certain crypto assets to fall outside the definition of an « investment contract. » It would also preempt certain state securities registration requirements. The proposal will now enter a 60-day public comment period following its publication in the Federal Register.
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