Wu Says Daily Selected Crypto News - SEC's "Safe Harbor" Framework Enters White House Review, Includes Startup Exemption Plan

WuSaidBlockchainW · 2026-04-07T14:02:43+00:00

The SEC's crypto "Safe Harbor" framework has entered White House review, including startup exemption and innovation exemption mechanisms. Meanwhile, Ethereum stablecoin supply has surpassed $180 billion, reaching a record high and accounting for 60% of the market share. Strategy experienced an unrealized loss of $14.5 billion in the first quarter due to Bitcoin depreciation.

WuSaidBlockchainW

2026-04-07 14:02:43

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SEC’s crypto “safe harbor” framework enters White House review, including a startup exemption proposal

SEC Chair Paul Atkins said that the crypto “safe harbor” framework he proposed has entered the White House review process and is currently being reviewed by OIRA. The framework is expected to be released soon. The proposal includes a “startup exemption,” allowing crypto projects to raise capital for about 4 years on the condition that they fulfill their information disclosure obligations. It also includes a safe harbor for investment contracts and an explanatory guidance on token classification. In addition, the SEC is also moving forward with an “innovation exemption” mechanism, which plans to provide on-chain assets with arrangements similar to a regulatory sandbox, but the scope remains controversial within the industry.

Data: Ethereum stablecoin supply surpasses $180 billion, setting a new all-time high

Ethereum stablecoin supply has surpassed $180 billion, setting a new all-time high. In the past 3 years, it has grown by 150%. Currently, Ethereum holds a 60% market share in the stablecoin market. Token Terminal expects that, in the most optimistic scenario, $1.7 trillion in capital will be put on-chain over the next 4 years. Even if Ethereum’s market share falls to 50%, capital inflows of about $850 billion may still be added by 2023.

Strategy records a $14.5 billion unrealized bitcoin loss in the first quarter

Strategy recorded an unrealized loss of about $14.5 billion in this year’s first quarter, mainly because the bitcoin reserves it holds saw a steep decline in value during the quarter. Data shows that bitcoin fell by 23% cumulatively in the first quarter this year, marking the worst start to a year since 2018. Reports indicate that Strategy adopted a fair value accounting standard for digital assets starting last year, which requires marking the bitcoin it holds to market at the end of each quarter. As a result, performance volatility has been significantly amplified. In the same period, the company also recorded about $2.4 billion of “unrealized” …

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