On April 7, CoinDesk reported that Paul Atkins, Chairman of the U.S. Securities and Exchange Commission (SEC), stated on Monday that the agency is preparing to propose an initiative on "cryptocurrency regulation" to more clearly define its regulatory approach to the crypto industry, outlining which transactions may be considered securities and which are not. Chairman Paul Atkins noted that the new "cryptocurrency regulation" has been presented to the White House Office of Information and Regulatory Affairs, indicating that it is just one step away from an official release. He mentioned that the rulemaking process is primarily based on the Securities Act of 1933 and will address issues related to funding and exemptions for startups. After the Q&A session, he also indicated that the SEC plans to soon launch the long-awaited "Innovation Exemption."