《Under the New SEC Rules, Can the Crypto Industry Relearn Asset Creation?》 (Author: Meng Yan) The SEC proposal *Regulation Crypto Assets* includes two exemptions and one safe harbor: - **Startup exemption** allows projects to raise up to $5 million within 4 years. - **Fundraising exemption** is divided into Tier 1 and Tier 2, with fundraising caps of $20 million and $75 million respectively within 12 months. - Once a project has completed or permanently abandoned the core managerial efforts promised in its whitepaper and makes no new commitments, it can submit **Form TR**, allowing the SEC to determine that the investment contract has been terminated and the token itself is no longer a security. The article suggests that this proposal, along with the *Clarity Act*, could reopen the incubation and trading pathways for native crypto assets. However, whether the *Clarity Act* will pass remains uncertain. Read the full article: https://(wublock123.com)/articles/sec-rule-can-crypto-relearn-asset-creation-59389