The SEC's crypto "safe harbor" proposal has been submitted to the White House for review and may be released soon.

CoinFeed reported on April 7 that SEC Chairman Paul Atkins stated that a proposed "safe harbor" framework aimed at providing launch exemptions for crypto projects has been submitted to the White House Office of Management and Budget (OIRA) for review, the final step before its formal release. The proposal includes a "startup exemption" that would allow stakeholders in the crypto industry to raise a certain amount of funding within four years, while providing specific disclosures. Additionally, Atkins proposed a "safe harbor for investment contracts" to be combined with the SEC's interpretative guidance on token-based classification issued in March of this year. Atkins noted that legislation is necessary because it can provide a more robust and enduring regulatory framework than agency rulemaking. Furthermore, the SEC is also exploring an "innovation exemption" as a regulatory sandbox for on-chain assets.