Overview

• SEC Chair Paul Atkins said on Tuesday he aims to implement an innovation exemption for certain digital assets by the end of the year.
• Atkins said the commission will pursue crypto-focused rulemakings in the coming months under its Project Crypto initiative.
• The SEC last week adopted a generic listing standard allowing exchanges to list spot-commodity ETPs, including crypto products, without case-by-case reviews.
• Both the SEC and the CFTC have invited existing registered firms to proceed with crypto activities, advising them to check in with regulators as questions arise.
• Specific contours of exemptions and safe harbors remain undefined and will go through public rulemaking, while Senate committees work in parallel on legislation with action targeted for late October.