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The U.S. Securities and Exchange Commission (SEC) has submitted to the Office of Information and Regulatory Affairs (OIRA), part of the Presidential Administration, a draft of new rules to regulate the digital asset industry. This step is part of the formal interagency approval process before the official publication of the initiative and the start of public discussion. SEC Chairman Paul Atkins, at a recent summit of Vanderbilt University and the Blockchain Association, described the document as "pre-final" and expressed confidence in its imminent publication.

The key aspect of the proposal is the concept of a "safe harbor", specially adapted for the issuance and circulation of tokens. It implies the creation of a special regime, the so-called "rejection for startups." If this proposal is accepted, start-up companies will be able to attract financing and create decentralized systems for a certain period (up to four years). without the need for full registration, as for traditional issuers of securities. In return, they will have to comply with certain disclosure requirements so that investors have a basic understanding of the risks and purposes of using the funds.

In addition, the draft addresses the classification of digital assets and introduces the concept of a "safe harbor" for investment contracts. All this is aimed at helping the regulator to more clearly determine whether a particular token is a security under current legislation.

The transfer of the project to OIRA comes amid intense discussions in Washington about the need to create a clear and stable regulatory framework for the digital asset market. Paul Atkins emphasized that the SEC is committed to developing long-term rules that will be resistant to political changes. This is reflected in the approach to consolidating the principles at the level of departmental acts.

The reaction of market participants is mixed. The Blockchain Association positively assesses the initiative, believing that the SEC has sufficient authority to make such exceptions without passing a separate law. However, some representatives of the traditional financial sector, such as Citadel Securities, insist on a broader public discussion and legislative formalization of the changes.

In general, this proposal can be considered as part of a larger strategy to form a unified regulatory system, which is especially important in the context of the rapid development of distributed ledger technology.