SEC's proposed crypto asset rules have closed public comment period, receiving approximately 140 comments.

PANews October 20 news, according to Cointelegraph, the U.S. SEC will end the public comment period on Tuesday for its "Regulation Crypto Assets" rule proposal. The proposal was introduced in August, and during the 60-day comment period approximately 140 comments were received, 6 of which were submitted anonymously. The comments mainly concern two parts: first, a safe harbor provision that prevents token issuers from being deemed to be offering an "investment contract"; second, an exemption for offerings below a certain amount. The MiCA Crypto Alliance generally supports the revisions to the disclosure requirements and recommends that the SEC further define concepts and data structures specific to crypto assets. SkyBridge Capital founder Anthony Scaramucci expressed support for these rules. Previously, Congress failed to pass the CLARITY Act. Some legal experts believe that, compared with congressional legislation, regulatory rules are easier to overturn.