SEC Proposes New Crypto Rules, Allowing Fundraising of Up to $75 Million
The U.S. Securities and Exchange Commission (SEC) has presented a proposal for new crypto regulations aimed at facilitating capital raising for certain crypto projects. Chairman Paul Atkins describes the proposal as a 'historic step' in modernizing U.S. regulations for the sector. Announced on August 18, the proposal introduces separate rules for crypto projects seeking to raise funds from investors. Projects can raise up to $75 million per year under certain conditions. There are two exceptions: a project can raise a maximum of $5 million over a period of four years, and the second exception allows up to $75 million per 12-month period. However, projects must meet conditions such as providing information to investors and adhering to rules against fraud and market manipulation. Additional requirements apply for the $75 million scheme, including the publication of financial figures. The proposal is not yet final; stakeholders can respond until October 20, after which the SEC may adjust the plan.
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