SEC Commissioner Hester Peirce said crypto self-custody is a “very fundamental American right” and argued that people should be free to hold assets themselves or use intermediaries. According to NS3.AI, she also outlined a simplified startup exemption that would allow crypto projects to raise up to $5 million.

Peirce said a stricter option would let projects raise up to $75 million. She presented the two fundraising paths as part of a broader framework for crypto projects.