The SEC’s public comment deadline for its proposed Regulation Crypto Assets arrived on October 20. The draft would permit eligible crypto investment-contract offerings of up to $5 million over four years under a startup exemption, or up to $75 million within 12 months under a separate fundraising exemption. Neither route is an enacted rule.
Global Digital Finance submitted an October 20 response asking for clearer distinctions between tokens and the contracts used to sell them, more useful investor disclosures, and practical rules for secondary trading and custody. The Hyperliquid Policy Center, focused on onchain markets including Hyperliquid ( $HYPE ), separately sought clearer treatment of airdrops, token buybacks and trading after an initial offering.
These are public comments, not SEC approvals or changes to any token’s legal status. The agency must still consider submissions before deciding on a final rule.
Global Digital Finance submitted an October 20 response asking for clearer distinctions between tokens and the contracts used to sell them, more useful investor disclosures, and practical rules for secondary trading and custody. The Hyperliquid Policy Center, focused on onchain markets including Hyperliquid ( $HYPE ), separately sought clearer treatment of airdrops, token buybacks and trading after an initial offering.
These are public comments, not SEC approvals or changes to any token’s legal status. The agency must still consider submissions before deciding on a final rule.