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SEC to propose rules for digital asset sales

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Potential amendments for crypto trading on national

exchanges

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SEC aims to reduce compliance burdens for public companies

By Hannah Lang

Sept 4 - The U.S. Securities and Exchange Commission on

Thursday unveiled its rulemaking agenda for the upcoming months,

which could see broad proposals to revamp cryptocurrency

regulations and reduce rules Wall Street has decried as being

overly burdensome.

The SEC formally outlined several of its initiatives to

overhaul cryptocurrency policies, which SEC Chair Paul Atkins

had previewed in July. Those include proposing rules about the

offer and sale of digital assets, which the SEC said could

potentially include certain exemptions and safe harbors, and

clarifying how its broker-dealer rules apply to crypto.

The SEC also said it would consider amending its rules to

allow for crypto to be traded on national securities exchanges

and alternative trading systems.

If enacted, those policies would represent a major win for

the digital asset industry, which has long pushed for tailored

rules that would enable crypto to become more enmeshed with

traditional finance.

"This regulatory agenda reflects that it a new day at the

Securities and Exchange Commission," Atkins said in a statement.

"The items on the agenda represent the commission's renewed

focus on supporting innovation, capital formation, market

efficiency and investor protection."

On the campaign trail last year, President Donald Trump courted

crypto cash by pledging to be a "crypto president" and promote

the adoption of digital assets.

That is in stark contrast to former Democratic President Joe

Biden's regulators, who, in a bid to protect Americans from

fraud and money laundering, cracked down on the industry. The

Biden administration's SEC sued exchanges Coinbase, Binance, and

dozens more, alleging they were flouting U.S. laws. Trump's SEC

has since dropped those cases.

The SEC also plans to propose a plan for

"rationalization" of disclosures. The agency's core work

includes laying out disclosure requirements meant to increase

transparency and reduce risk for investors.

The agency also flagged a plan to "to reduce compliance burdens"

for public companies in connection with shareholder proposals.