SEC Proposes Dual-Track Crypto Exemptions With $75 Million Cap
Crypto issuers in the United States have long faced uncertainty over whether token sales qualify as investment contracts under federal securities law, exposing projects to enforcement risks and limiting access to capital. The Securities and Exchange Commission’s proposed Regulation Crypto Assets would establish its first permanent framework specifically for crypto offerings, potentially giving issuers a clearer route to market while preserving disclosure and investor-protection requirements.
The SEC proposal would create two exemption tracks for qualifying crypto asset offerings, with issuers able to raise as much as $75 million annually. It also includes a safe harbor and a process for determining that certain assets are not investment contracts, offering projects additional paths to regulatory compliance. The draft is now open for a 60-day public comment period, after which the agency may revise the provisions before considering a final rule.
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The history behind this eventU.S. SEC Could Propose New Rule as Soon as This Month to Ease Crypto Startup Fundraising
The U.S. Securities and Exchange Commission has long applied securities laws to crypto-asset issuance and fundraising, leaving development teams uncertain about whether tokens qualify as securities and must be registered. The proposed “Regulation Crypto” would provide a temporary registration exemption, reducing compliance costs for startups and signaling a shift in the SEC's regulatory approach toward supporting industry growth.
The SEC is expected to propose its first major crypto rule as soon as July 2026, with a safe harbor for crypto developers, startups and fundraising activities at its core. The proposal would ease registration requirements and barriers to raising capital. The duration of the exemption, eligibility conditions and fundraising cap have not been disclosed. The measure would still be subject to public consultation and a formal rulemaking process.
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