BREAKING: 🇺🇸 SEC has officially proposed its first ever crypto rulebook.
Under the proposal:
- Projects can raise up to $5 MILLION one time with basic disclosures and no full SEC registration
- Bigger projects can raise up to $75 MILLION every YEAR with financial statements and ongoing reporting
- Tokens legally STOP being securities once a team finishes, or permanently abandons, its promised work
- State registration rules are preempted, including for some secondary market trading
The rules now enter a 60 day public comment period.$BTC
Under the proposal:
- Projects can raise up to $5 MILLION one time with basic disclosures and no full SEC registration
- Bigger projects can raise up to $75 MILLION every YEAR with financial statements and ongoing reporting
- Tokens legally STOP being securities once a team finishes, or permanently abandons, its promised work
- State registration rules are preempted, including for some secondary market trading
The rules now enter a 60 day public comment period.$BTC