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SEC Crypto Rulemaking Enters White House Review As Industry Waits For Details
The OMB review is the last step before the SEC can publish a final rule on token classification. The process takes 30 to 90 days, ending a years-long wait for regulatory clarity.
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The SEC's crypto rulemaking has entered White House review. The proposed rule was submitted to the Office of Management and Budget for interagency review, according to a notice on the OMB website. The review process takes 30 to 90 days. After that, the SEC could publish a final rule.
Industry groups have pushed for clarity on which digital assets fall under SEC jurisdiction. The rulemaking is expected to address the Howey test's application to crypto tokens. The SEC has not released draft text. The OMB filing confirms the submission but does not include details on the rule's scope.