SEC Crypto Rule Comment Deadline Arrives as Fundraising Exemptions Draw Debate

The SEC’s comment period on Regulation Crypto Assets closes Tuesday, leaving the agency to weigh proposed fundraising exemptions and a conditional safe harbor that could change how crypto assets are treated under securities rules. Issued Aug. 18, the proposal would let eligible issuers raise up to $5 million over four years through one exemption. A separate exemption would have two tiers, allowing up to $20 million or $75 million within a 12-month period, with $75 million as the higher limit. The draft also sets conditions under which a crypto asset would no longer be treated as subject to an investment contract. Issuers would remain subject to antifraud and antimanipulation laws.

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