Trump hosts crypto executives as the SEC proposes its friendliest rules yet

The SEC’s proposed Regulation Crypto Assets rule offers two registration exemptions: one for a single offering of up to $5 million within four years, and another for up to $75 million in any 12-month period, based on narrative disclosures. It creates a conditional safe-harbor that removes a token from the securities definition once the issuer completes or permanently ceases all promised managerial efforts, and pre-empts state registration for qualifying offerings and certain secondary trades. The proposal is open for public comment for 60 days.