A new bill titled the Responsible Financial Innovation Act of 2025 (RFIA) has been introduced in the U.S., aiming to reboot crypto regulation and provide long-awaited legal clarity.
Tokens ≠ Securities
If a project discloses who owns tokens, how they're distributed, and investor rights, the token qualifies as a commodity, not a security.
This removes the need for SEC oversight or registration like stocks
Reg DA – New Token Sale Framework.
Projects can raise up to $75m per year.
A 4-year grace period applies with simplified compliance.
No need for a complex S-1 filing — basic reporting is enough.
Fintech Sandbox.
Startups can test blockchain solutions without fear of immediate enforcement
Legal Clarity.
First-time legal definitions for digital assets and ancillary assets.
Fewer regulatory risks, lower capital costs, and better conditions to keep crypto innovation in the U.S.