SEC Chair: 'Regulatory Rulemaking on Cryptocurrency Financing' Coming Soon

BlockBeats News, April 7th, according to CoinDesk, U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins said on Monday that the agency is about to propose a "crypto regulation" proposal to further clarify its regulatory approach to the crypto industry and define which transactions may be considered securities and which are not.

SEC Chairman Paul Atkins stated that the agency's new "crypto regulation" has been submitted to the White House Office of Information and Regulatory Affairs, meaning that formal release is just one step away. He said that this rulemaking is primarily based on the "Securities Act of 1933" and will involve issues such as fundraising and startup exemptions.

At the end of the Q&A session, he stated that the SEC also intends to soon launch the long-awaited "Innovation Exemption."