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U.S. SEC Chair: To Release “Regulatory Rules” on Cryptocurrency Financing Oversight Soon
ChainCatcher message, according to a report by CoinDesk, that Paul Atkins, chairman of the U.S. Securities and Exchange Commission (SEC), said on Monday the agency is about to submit a “crypto regulation” proposal to further clarify how it will regulate the crypto industry and to set out which transactions may be considered securities and which are not.
SEC Chairman Paul Atkins said the SEC’s new “crypto regulation” is currently already with the Office of Information and Regulatory Affairs, which means it is just one step away from formal release. He said the rulemaking is mainly based on the Securities Act of 1933 and will address issues such as financing and start-up exemptions.
After the Q&A session, he said the SEC also plans to roll out the long-awaited “innovation exemption” soon.