U.S. SEC proposes first major crypto rule in surprise announcement

The U.S. Securities and Exchange Commission has issued a proposed rule to establish 'Regulation Crypto Assets,' its first permanent rule governing digital assets, intended to clear a path for offering crypto securities without triggering certain regulatory demands. The announcement was unexpected, as the agency had cancelled an August 14 meeting that was meant to propose the same rule. The proposal includes two tracks for crypto securities offerings and is a notable development given Congress has so far fallen short in passing a crypto market structure law.