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Per the new version of the Safe Harbor proposal, if a project meets neither of the specified requirements, it will have a few months to register with the SEC as a securities issuer.
Providing regulatory clarity for the cryptocurrency ecosystem in the United States has never been easy. This may perhaps be because of the lack of preparation on the part of the authorities for such intrusive innovations as blockchain technology and its accompanying crypto inventions. The lack of regulatory clarity has spelled many woes for fintech firms building products in the nascent space, and the Ripple-SEC legal showdown is one of the many aftermaths of the unclear regulations in general. To address this challenge, Hester Peirce, a commissioner with the United States Securities and Exchange Commission made a crypto Safe Harbor proposal last year, citing amongst many things the need to give cryptocurrency startups some breathing space before they ar