Safe Harbor

2025 Safe Harbor Framework Overview

March 10, 2025
  • The 2025 Safe Harbor Framework provides prospective and retroactive relief for token projects, including Rule 195 for new distributions and Rule 195T for historical distributions.
  • The framework includes an exit test for Network Maturity, ensuring that once achieved, the Initial Development Group lacks control to alter the fundamental characteristics of the Network and Token.
  • The framework imposes commitments on the Initial Development Group, including acceptance of SEC fraud jurisdiction, continuous public disclosure, and caps on sales and lock-ups.

Last Reviewed or Updated: April 3, 2025