SEC Rolls Out "Innovation Exemption," Says It's Stepping In Where Congress Has Stalled on Crypto Legislation

The U.S. Securities and Exchange Commission (SEC) has rolled out a measure dubbed the "innovation exemption." The SEC is positioning this move as a response to the Senate's continued failure to advance crypto legislation — in other words, the regulator is stepping in with its own stopgap while Congress remains gridlocked.

That's about all that's public for now: the SEC has confirmed the "innovation exemption" exists and tied its rollout to the stalled pace of congressional legislation, but has yet to release further details on its scope, eligibility requirements, or effective date.