US SEC Sends Major Crypto Regulation Proposal to White House

The US Securities and Exchange Commission (SEC) has taken a significant step towards regulating the crypto industry by sending its major proposal to the White House for final review.

The plan, which includes startup, fundraising, and safe harbor provisions, aims to provide clarity and support innovation in the industry. According to SEC Chair Paul Atkins, the agency has submitted the 'Regulation Crypto Assets' proposal to the Office of Information and Regulatory Affairs (OIRA), marking a crucial step in the formal rulemaking process.

The proposal is expected to undergo public feedback before being published, and SEC officials are seeking input from market participants. The new regulations could bring much-needed clarity to the industry, making it easier for companies to innovate while understanding what regulators expect.