Exchanges would get a two-year grace period if the SEC determines a token they list is an unregistered security.
Sen. Bill Hagerty has introduced a bill to create a two-year safe harbor for crypto exchanges if the SEC determines they have listed an unregistered security.
Sen. Bill Hagerty has introduced a bill to create a safe harbor for cryptocurrency exchanges that might otherwise face legal action for listing unregistered securities. CFTC Chair Rostin Benham has pushed for more direct authority over digital assets, while SEC Chair Gary Gensler Hagerty sits on the Senate Banking Committee, which holds jurisdiction over the SEC and legislation like the bill he introduced. However, the bill faces long odds to becoming law during this Congress, due to the limited amount of time left in session.
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