SEC's crypto safe harbor proposal enters White House review stage

Paul Atkins, chairman of the U.S. Securities and Exchange Commission (SEC), stated at the digital asset summit held at Vanderbilt University that the SEC's proposed crypto "safe harbor" framework has been submitted to the Office of Information and Regulatory Affairs (OIRA) under the White House Office of Management and Budget for review, with only the final step remaining before official release.

The proposal includes a "startup exemption" clause that allows crypto projects to raise a certain amount of funds over a four-year period while providing specific disclosures to protect investors. Atkins also revealed that the SEC is advancing an "innovation exemption" mechanism aimed at creating a regulatory sandbox for on-chain assets, but this initiative has sparked controversy between crypto advocates and traditional financial institutions. Atkins emphasized that relevant legislation is still necessary to ensure the regulatory framework has durability across different administrations.

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