SEC to Formalize Innovation Exemption for Crypto Firms by Year-End
The U.S. Securities and Exchange Commission intends to implement an innovation exemption policy for cryptocurrency companies before the close of the year.
Summary
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Terms & Concepts
- Innovation Exemption: A regulatory provision that allows certain companies, such as those in emerging technology sectors, to operate with modified or reduced compliance requirements to encourage innovation.
- Securities and Exchange Commission (SEC): The primary U.S. federal regulatory agency responsible for enforcing securities laws and regulating the securities industry, including certain aspects of cryptocurrency markets.
- Cryptocurrency: A digital or virtual currency that uses cryptography for security and operates on decentralized blockchain technology.