While Washington’s attention fixes on whether the CLARITY Act can find seven Democratic votes before the August recess, the Securities and Exchange Commission has been quietly assembling the framework that governs American crypto if the bill dies, and much of it even if the bill passes.
Summary
- Regulation Crypto would create a four-year startup exemption for crypto projects raising up to 5 million dollars per year.
- A separate fundraising exemption would let more mature issuers raise up to 75 million dollars annually with lighter disclosure than full registration.
- The safe harbor would give tokens a defined path out of securities classification once issuer-led managerial…
