SEC Delays Vote on Crypto Fundraising Rules
The SEC abruptly postponed a vote on a framework that could create new fundraising exemptions and safe harbors for crypto projects.
• Without the CLARITY Act in effect, any adopted rules could still be changed by a future Commission, challenged in court, or superseded by Congress.
#DeFi #SEC #CryptoRegulation #CLARITYAct #Fundraising
@DeFiYieldChannel
The SEC abruptly postponed a vote on a framework that could create new fundraising exemptions and safe harbors for crypto projects.
• The SEC canceled Friday's meeting on Thursday, citing an "unforeseen scheduling issue," with no rescheduled date yet and no indication the proposal was abandoned.
• Chair Paul Atkins previewed the framework in March as a way to give crypto projects simpler capital-raising paths.
• Floated examples include a startup exemption with up to four years of runway, a fundraising exemption allowing up to $75 million annually with tailored disclosures, and a safe harbor defining when a token would no longer be treated as part of an investment contract.
• These were examples Atkins floated, not final rule terms; Friday's vote would only have decided whether to formally propose the framework for public comment.
• Without the CLARITY Act in effect, any adopted rules could still be changed by a future Commission, challenged in court, or superseded by Congress.
#DeFi #SEC #CryptoRegulation #CLARITYAct #Fundraising
@DeFiYieldChannel