SEC Chair Paul Atkins confirmed the Regulation Crypto Assets proposal is at the White House for final review before formal publication and public comment.

SEC Chair Paul Atkins confirmed Monday at a Nashville event hosted by Vanderbilt University and the Blockchain Association that the agency’s Regulation Crypto Assets framework has advanced to the Office of Information and Regulatory Affairs at the White House, the final review stage before the proposal is published in the Federal Register for public comment. “We will have reg crypto that we will be proposing here shortly,” Atkins said. “It’s in fact at OIRA right now.”

The proposal builds on the interpretive release the SEC and CFTC jointly issued on March 17, which established a token taxonomy covering digital commodities, collectibles, tools, stablecoins, and digital securities. Regulation Crypto Assets layers a rulemaking framework on top of that guidance, drawing from Commissioner Hester Peirce’s earlier Token Safe Harbor concept.

This story is an excerpt from the Unchained Daily newsletter.

Three components anchor the package. A startup exemption would give early-stage crypto projects up to four years to raise a capped amount, roughly $5 million, with principles-based disclosure. A broader fundraising exemption would allow raises of up to approximately $75 million per year under stricter requirements. And an investment contract safe harbor would shield certain tokens from securities classification once the project team stops performing promised managerial duties.

Atkins emphasized the SEC wants marketplace feedback to ensure the rules remain workable. Once OIRA completes its review, the proposal enters a public comment period before any final rules take effect. For crypto founders who have spent years navigating enforcement-by-ambiguity, a formal fundraising framework could mark the clearest regulatory path yet.