According to Crowdfunding Insider, the North American Securities Regulatory Association has submitted an 11 page principle proposal for cryptocurrency regulation to the US SEC, proposing five core requirements: 1) investor protection should be the core of regulation; 2) Establish a concise and easy to understand risk disclosure mechanism; 3) Adopting an adjustable exemption framework; 4) Retain the anti fraud authority of each state; 5) Supporting innovation while combating crime. The document responds to SEC Commissioner Hester Peirce's regulatory reform initiative, emphasizing the need to uphold the enforcement powers of each state. NASAA represents the securities regulatory agencies of the United States, Canada, and Mexico, and the SEC is currently considering new regulatory rules for digital assets.
