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U.S. SEC Chair: Upcoming "Regulatory Rules" on Cryptocurrency Financing Issues
ME News Report, April 7 (UTC+8), the Chairman of the U.S. Securities and Exchange Commission (SEC), Paul Atkins, stated on Monday that the agency is about to propose a “cryptocurrency regulation” plan to further clarify its approach to regulating the crypto industry and to delineate which transactions may be considered securities and which are not. SEC Chairman Paul Atkins said that the agency’s new “cryptocurrency regulation” has now been submitted to the White House Office of Information and Regulatory Affairs, meaning it is only one step away from official release. He mentioned that this rulemaking is primarily based on the Securities Act of 1933 and will involve issues such as fundraising and startup exemptions. After the Q&A session, he also indicated that the SEC plans to soon introduce the long-awaited “innovation exemption.” (Source: ChainCatcher)