In brief
- The SEC proposed exemptions allowing crypto projects to raise up to $5 million over four years or $75 million annually without full securities registration.
- The proposal includes a safe harbor that could allow a crypto asset to separate from the investment contract through which it was sold.
- The SEC moved forward with the proposal days after canceling a meeting on the framework amid reported pressure from Wall Street and the White House.
The Securities and Exchange Commission proposed new rules Tuesday that would let crypto projects raise funds without requiring full securities registration, abruptly changing course after calling off a meeting late last week in which the Commission was expected to introduce the measures.
Under…
