SEC closes comment period on crypto asset rules after Congress stalls legislation

The US Securities and Exchange Commission (SEC) is preparing to advance new regulations for the digital asset sector after Congress failed to enact a comprehensive law to govern cryptocurrency. On Tuesday, the SEC will end the public comment phase for its ‘Regulation Crypto Assets’ proposal. This rule set was introduced in August to establish what the SEC described as a “clear and fit-for-purpose framework for certain investment contracts involving crypto assets.” Over a designated 60-day period, the SEC received roughly 140 public comments from organizations, industry representatives, and individual stakeholders. Feedback centered on regulatory aspects such as the safe harbor provision, which could allow token issuers to avoid classification as “investment contracts,” and possible exemptions for companies making token offerings up to specified amounts.

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