SEC proposes new crypto rules in absence of CLARITY Act

The proposed rules from the US securities regulator would provide companies with a safe harbor from tokens being treated as “investment contracts” and certain exemptions for token issuance.

The top 3

  1. Europe's MiCA Leads with Comprehensive Framework: The European Union's Markets in Crypto-Assets (MiCA) regulation is considered one of the most comprehensive global frameworks, covering issuance, trading, and service providers across the EU, and has seen over 90 firms authorized as Crypto-Asset Service Providers (CASPs).
  2. Singapore's Strict Licensing Fosters Trust: Singapore emphasizes strict licensing and compliance for crypto firms and stablecoins through its Payment Services Act (PSA) and MAS licensing, positioning itself as a trusted environment for crypto businesses.
  3. United States' Evolving and Fragmented Regulatory Landscape: The U.S. crypto regulation has historically been fragmented, with various federal agencies applying different interpretations; however, Congress made progress in 2025 with legislation like the GENIUS Act, while the SEC continues to propose new rules in the absence of broader clarity.

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