SEC Proposes Crypto Securities Framework With $75M Exemption Tiers

The SEC proposed a new "Regulation Crypto Assets" framework with registration exemptions up to $5M and $75M, plus a conditional safe harbor, in a major shift for US crypto fundraising. Meanwhile, Treasury's GENIUS Act proposal could force US exchanges to delist Tether, and spot Bitcoin ETFs rebounded with $189M in inflows on Aug 18 even as Hashdex's DEFI fund shut down. Ethereum's Glamsterdam upgrade will break wallets that hardcode the 21,000 gas limit.

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SEC proposes crypto securities framework with exemptions up to $75 million The proposal, called Regulation Crypto Assets, creates two registration exemptions — $5M over four years and $75M per 12 months — plus a conditional safe harbor for assets once managerial efforts end. It follows the SEC's March 2026 interpretation and opens a 60-day comment period. 1 2 3

Treasury stablecoin rule could force US exchanges to delist Tether Analyst Austin Campbell said Coinbase's US platform "might have to delist Tether" under Treasury's GENIUS Act proposal, which from Jan 18, 2027 bars offering foreign-issued stablecoins unless issuers comply with US lawful orders. Europe's MiCA delistings are the template. 4 5

Spot Bitcoin ETFs pull in $189M as Hashdex DEFI fund shuts down BlackRock's IBIT led with $143.57M and Fidelity clients added $23.92M on Aug 18, a sharp rebound after last week's outflows. Hashdex's DEFI spot Bitcoin ETF ceased trading on NYSE Arca on Aug 17 after struggling with thin assets. 6 7 8

Ether ETFs extend inflow streak to four days with $71.5M BlackRock's ETHA accounted for about 90% of the $71.47M in net inflows on Aug 18, with Grayscale, Bitwise, and Invesco funds also positive. The streak signals renewed institutional demand for regulated ETH exposure. 8 9

Ethereum's Glamsterdam upgrade breaks the 21,000 gas rule EIP-8037 adds state gas charges for transfers that create new accounts, splitting Ethereum's gas model into two tiers. The Ethereum Foundation warns wallets and tools hardcoding 21,000 gas will malfunction, and a Platåberget testnet will fork in the full rule set for testing. 10 11

Paxos USDG hits $929M in DeFi deposits as circulation tops $3B The Singapore-regulated stablecoin now has roughly a third of its supply deployed across lending protocols and liquidity pools, including Aave V4 and Maple Finance. The Global Dollar Network has grown to over 150 partners. 12

Tokenized Circle stock CRCLx nears $3M in DeFi The tokenized Circle stock product is nearing $3M in DeFi deployments, marking continued growth for tokenized equities. 13

HashKey partners to use Hong Kong's first regulated stablecoin for settlements HashKey Exchange and OneDegree's OneInfinity will explore HKDAP for insurance premiums and cross-border payments, including conversions between HKDAP, USD, and UAE dirhams via HashKey MENA. 14

Strategy CEO says Bitcoin accumulation will continue later this year Phong Le signaled the company's Bitcoin buying is not done, a comment that could support MSTR sentiment as the firm remains a major corporate BTC holder. 15