SEC Unveils "Regulation Crypto Assets" Framework; BASED Token TGE Set for March 30

U.S. SEC Chairman Paul S. Atkins introduced the "Regulation Crypto Assets" framework on March 17 at the Washington DC Blockchain Summit, clarifying that digital commodities, digital collectibles, digital utilities, and payment stablecoins defined under the GENIUS Act are not treated as securities, the SEC's official website shows. The framework leaves digital securities—tokenized traditional securities—within securities laws and sets investment contract termination conditions that remove related crypto assets from oversight once contracts end. Atkins proposed three token fundraising exemptions: a "Startup Exemption" for up to $5 million over four years, a "Fundraising Exemption" allowing $75 million in 12 months with SEC filings, and an "Investment Contract Safe Harbor" with nonsecurity recognition standards; he said the SEC will seek public comments and work with the CFTC on implementation while stressing that comprehensive market structure legislation from Congress is key for longterm regulatory stability. Separately, Based Foundation, a crypto trading and consumer platform in the Hyperliquid ecosystem, stated on X that the BASED token TGE is scheduled for March 30, following its $11.5 million Series A round led by Pantera Capital.