Grayscale Says SEC Reg Crypto Plan Could Reopen Token Fundraising Path
Grayscale Research says the SEC’s proposed “Regulation Crypto Assets” could create a workable U.S. path for compliant token fundraising. The draft would add exemptions for certain token offerings, with possible $5 million and $75 million tracks depending on structure and requirements. That matters because U.S. token sales have long been pushed into an offshore-or-enforcement choice, which discouraged legitimate fundraising and left investors with uneven disclosures. The outcome will depend on the details: disclosure rules, resale limits, investor eligibility, token utility, decentralization timelines, and ongoing reporting. If the framework is too strict, projects may still leave the U.S.; if too loose, investor protections weaken. A compliant domestic route could benefit smart-contract ecosystems like Ethereum, Solana, and BNB Chain by encouraging more U.S.-based project formation. But this is only a proposal, not final law, and the SEC may revise or abandon it. The broader shift is from pure enforcement toward clearer rulemaking.
