‼️ SEC PROPOSES TOKEN OFFERING RULES The SEC proposed rules today letting token issuers raise $75 million a year with no registration, and shed the "investment contract" label. The agency's Regulation Crypto Assets proposal answers the question a decade of enforcement never did: when a token stops being a security. The answer: when the issuer certifies it has completed or permanently ceased the managerial efforts it promised investors. Read more here: https://thedefiant.io/news/regulation/sec-proposes-token-offering-rules-75-million-exemption(The Defiant)