US SEC moves to advance 'Reg Crypto' rules separately from Clarity legislation

Suehyeon Lee

Summary

The US SEC reportedly is drafting Reg Crypto rules independently of Congress’s Clarity Act.
The SEC said it is preparing a Reg Crypto framework via rulemaking that would create a new fundraising exemption under the Securities Act of 1933.
The industry is watching whether this dual-track approach can speed up regulatory clarity for crypto-asset issuance and investment structures.

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The US Securities and Exchange Commission (SEC) is reportedly drafting its own set of crypto-asset fundraising rules, dubbed “Reg Crypto,” independent of Congress’s deliberations over the Clarity Act.

According to Eleanor Terrett on the 6th (local time), SEC Chairman Paul Atkins said in recent remarks that, in parallel with the Clarity Act’s path through Congress, the SEC is also preparing a separate Reg Crypto framework through its rulemaking process.

Reg Crypto is a provision included in Section 103 of the Clarity Act currently under discussion in the Senate, with the centerpiece being the creation of a new fundraising exemption under the Securities Act of 1933. The regime is designed to allow crypto-asset projects to raise funds from investors and distribute tokens while gradually moving toward decentralization.

The SEC’s decision to pursue its own rules apart from legislation is seen as an effort to minimize regulatory gaps in case congressional action is delayed. The industry is watching whether this dual-track approach can accelerate regulatory clarity around crypto-asset issuance and investment structures.