The U.S. Securities and Exchange Commission (SEC) has proposed exempting certain digital asset issuances from having to file securities registration statements, with exemption thresholds set at up to $5 million and up to $75 million. The proposal imposes requirements on issuers, including submitting financial statements and meeting ongoing disclosure obligations. It also introduces a safe harbor provision to exclude such assets from the definition of “investment contract” under securities law.

The US Securities and Exchange Commission (SEC) has proposed exempting certain digital asset issuers from filing securities registration statements, with exemption thresholds set at up to $5 million and up to $75 million. The proposal imposes specific requirements on issuers, including submitting financial statements and meeting ongoing information disclosure obligations. It also establishes a safe harbor provision that excludes relevant assets from the definition of “investment contract” under securities law. The proposal comes at a time when landmark crypto legislation is stalled in Congress. The SEC Chair emphasized the need to develop “forward-looking” regulations to protect the digital asset industry, stating that legislation remains indispensable.