SEC Closes Public Comments on Crypto Regulation Proposal — SkimNews
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- SEC is scheduled to close public comments on its "Regulation Crypto Assets" proposal on Tuesday, having gathered approximately 140 comments from interest groups and individuals during the 60-day window.
- The August proposal would create a "clear and fit-for-purpose framework for certain investment contracts involving crypto assets," including a safe harbor shielding token issuers from being classified as "investment contracts" and exemptions for offerings up to a certain size.
- MiCA Crypto Alliance, a group helping organizations implement the EU's digital asset framework, largely backed the disclosure requirements and recommended the SEC better define "concepts and data structures specific to crypto assets."
- Anthony Scaramucci, founder of SkyBridge Capital, endorsed the rules as a response to "organic adoption" and said they represent a return to the SEC's "proper role."
- Six of the roughly 140 comments were submitted anonymously, a detail that stands out against the broader pattern of named industry and legal submissions.
- Legal experts noted that agency-issued rules can be more easily overturned than an act of Congress, raising questions about durability absent the stalled Digital Asset Market Clarity (CLARITY) Act.
- Both the SEC and the Commodity Futures Trading Commission remain understaffed at the leadership level even as they oversee competing aspects of the crypto industry.
Why it matters: With Congress unable to pass the CLARITY Act, the SEC is filling the regulatory void on its own — but agency rules, experts note, are easier to overturn than legislation. The roughly 140 comments show broad industry engagement, while six anonymous submissions hint that some participants are wary of attaching their names to a still-contested framework.
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