NASHVILLE, Tenn. — The U.S. Securities and Exchange Commission is nearing a proposal for a 'regulation crypto' framework that would spell out how the agency plans to oversee the crypto industry and clarify which transactions may fall under securities laws and which do not, SEC Chair Paul Atkins said Monday. Atkins said the draft is currently with the White House Office of Information and Regulatory Affairs, putting it one step away from publication. Speaking at an event hosted by Vanderbilt University and the Blockchain Association, he said the rulemaking centers on the Securities Act of 1933 and will cover issues including fundraising and exemptions for startups. After his question-and-answer session, Atkins told CoinDesk the SEC also expects to release its long-anticipated innovation exemption soon. 'We'd love to have reactions and everything else,' he said, adding that while it is not a formal rule, the agency wants feedback on how it works in practice and whether market participants encounter problems. He said the exemption is designed so it would not disadvantage incumbents or focus only on startups. 'We want people really to experiment within [that] framework,' he said. Atkins repeatedly pointed to Congress's role, arguing the SEC's rulemaking effort is already well underway regardless of what lawmakers may do. 'I think we have enough of a runway now, even notwithstanding what may happen in the midterms — although I really still want a friendly Congress obviously — they can throw tacks on the road in front of our tires but they're not going to really slow us down,' he said. He also urged the audience 'to be engaged in this upcoming election,' citing Sen. Bernie Moreno as an example. 'To have Congress really veer off track is not going to any of us any good, and it's going to put a lot more questions into the future because people then just have 'oh gosh, maybe this is again a passing phase,'' he said. 'We've got to make sure that your friends are in Congress. I think you saw how that really paid benefits in the last election.'