Startups get a $5M exemption for token sales. Fundraisers get up to $75M in exempted offerings. Investment contracts get a safe harbor. Each pathway has distinct compliance requirements for issuers.
The CLARITY Act, which would provide similar clarity, missed its August 10 deadline and won't pass before 2027. The SEC is now moving faster than Congress on crypto regulation through formal rulemaking.
Token projects can now choose a legal framework rather than operating in gray zones or going offshore. Compliant issuers get regulatory clarity and reduced legal risk, making US-based launches more viable.
A vote in favor signals long-term regulatory direction and could support institutional confidence in crypto. The framework shifts crypto from enforcement-target status to regulated asset class.
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