SEC proposes crypto fundraising rules up to $75M
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- The SEC proposed two exemptions for crypto fundraising without full securities registration.
- One exemption would allow up to $5 million over four years, while another allows $75 million annually.
- The proposal also includes a safe harbour for separating some tokens from their investment contracts.
The US Securities and Exchange Commission (SEC) proposed rules allowing crypto projects to raise up to $75 million annually without full registration.
The proposal includes a startup exemption for token offerings of up to $5 million over four years.
“This proposal is one step on a long road toward a clear, sensible, enforceable regulatory framework for crypto,” said SEC Commissioner Hester Peirce.
The $75 million exemption would require financial statements, ongoing reports and other disclosures from issuers.
The rules would also keep federal anti-fraud and anti-manipulation requirements in place for qualifying offerings.
The proposal follows the SEC's cancellation of a Regulation Crypto Assets meeting last week over an “unforeseen scheduling issue”.
The move comes as US lawmakers face stalled negotiations over the Clarity Act and Treasury advances stablecoin rules.
