According to CoinMeta, the Blockchain Association of America ( Blockchain Association ) submitted a letter of opinion to the U.S. Securities and Exchange Commission ( SEC ) regarding proposals for “cryptocurrency regulation.” The proposal calls for clarifying objective decentralization criteria that allow tokens to be exempt from the “investment contract” designation, such as being open-source and not subject to unilateral review. The association suggests raising the exemption limit for startups to $10 million and increasing the fundraising exemption to $150 million, supporting online transparency over audits, and excluding airdrops from these exemptions. Additionally, the proposal proposes establishing a third-party registration safe harbor for existing tokens, strengthening federal regulations’ pre-emptive jurisdiction over state legislation, and supporting 24/7 trading and self-hosting for exchanges.