US SEC considers own 'Reg Crypto' rules apart from Clarity Act

According to Eleanor Terrett, U.S. SEC Chairman Paul Atkins said the agency is preparing its own Reg Crypto regulations, a parallel effort to the Clarity Act currently making its way through Congress. The term Reg Crypto refers to a new fundraising exemption provision in Section 103 of the U.S. Senate's Clarity Act. The provision would create a new exemption under the Securities Act of 1933, designed to allow cryptocurrency projects to raise funds from investors, distribute tokens, and pursue decentralization.