Atkins Confirms Crypto Regulation Safe Harbor Is One Step From Going Live

The tone around crypto regulation in the US may finally be shifting. For several years, the discussions have mostly been around lawsuits and uncertainty. Now, there are signs of an actual rulebook taking shape. Speaking at a policy summit in Nashville, SEC Chair Paul Atkins confirmed that the agency’s long-awaited framework has reached the White House for final review. This puts it just one step away from becoming public.

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Atkins said the proposal, known internally as “Reg Crypto,” is currently with the Office of Information and Regulatory Affairs (OIRA). This is the final stage before it gets published for public comment. Atkins said,

“We’ll have reg crypto that we’ll be proposing here shortly. It’s in fact at OIRA right now, which is the next step before being published, so that’s exciting.” 

The framework introduces a set of exemptions that could ease pressure on startups. One of them allows early-stage projects to raise up to $5 million over four years without going through full securities registration. Another opens the door for companies to raise up to $75 million annually. But they are required to meet disclosure requirements.

Another part of the proposal deals with how tokens are classified. It creates a path for assets to stop being treated as securities once the team behind them steps back from running the project.

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Which Crypto Assets Fall Outside Securities Law

The proposal builds on guidance released in March by the SEC and CFTC. This is where they finally spelled out which crypto assets do not fall under securities laws. This list includes things like digital commodities, collectibles, tools, and payment stablecoins. It also made clear that activities like staking and mining are not being treated as securities offerings. Atkins added,

“We’ll be coming out with our parameters around that innovation exemption. I’m really excited about that. I think there’s a lot to be done in that area.”

For a market that spent years trying to interpret enforcement actions. This is a major shift in how the SEC is shaping crypto policy.

Meanwhile, Atkins pointed out that agency rules can change over time. In addition, more permanent clarity would likely depend on legislation like the CLARITY Act, which is still under discussion in Congress.

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