U.S. SEC Chairman: "Regulatory rules" on cryptocurrency financing issues to be released soon

According to CoinDesk, Paul Atkins, the chairman of the U.S. Securities and Exchange Commission (SEC), stated on Monday that the agency is about to propose a "crypto regulation" initiative to further clarify its regulatory approach to the crypto industry and delineate which transactions may be considered securities and which may not.

SEC Chairman Paul Atkins mentioned that the new "crypto regulation" has been submitted to the White House Office of Information and Regulatory Affairs, meaning it is just one step away from official release. He stated that this rule-making is primarily based on the Securities Act of 1933 and will involve issues such as financing and exemptions for startups.

After the Q&A session, he also indicated that the SEC plans to soon launch the long-awaited "innovation exemption."