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Bitcoin prices have surged following a proposal by the US Securities and Exchange Commission to create a new regulatory framework for crypto assets. The proposed 'safe harbor' aims to provide clarity for institutional investors and legitimize crypto as infrastructure.
Why it matters
Regulatory clarity from major financial bodies like the SEC is a critical factor in the mainstream adoption and institutional investment of digital assets.
Bitcoin skyrockets after US proposes new regulatory framework Y By Yiying Li
Bitcoin has surged, trading around the $US69,000 level, following a US securities regulator's proposal of a new regulatory framework for crypto assets this week.
The proposal would exempt certain crypto companies and offerings from US securities rules, making it easier for them to issue tokens and raise capital, Reuters reported.
In a statement, Paul Atkins , the Securities and Exchange Commission (SEC)'s Trump-appointed chair, said the agency "seeks to provide crypto asset entrepreneurs and market participants with clear pathways to raise capital under the federal securities laws".
"The SEC 's proposed safe harbour is significant because it removes one of the biggest uncertainties institutional investors have cited for years, whether a crypto asset could later be deemed an unregistered security," said Paul Stonham , the CEO of Bitcoin trading platform BTC Markets.
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