It took a little longer than expected, but the Securities and Exchange Commission on Tuesday proposed rules to make it easier for cryptocurrency firms to raise money from token sales.

The SEC had been slated to present the rules at an open meeting on Friday, but it delayed the meeting at the last minute citing a scheduling conflict.

In a statement, SEC Chairman Paul Atkins said the proposal "seeks to provide crypto asset entrepreneurs and market participants with clear pathways to raise capital under the federal securities laws."

The proposal would essentially allow crypto firms to avoid traditional securities registration requirements when offering tokens that meet certain conditions. One exemption would allow offerings of up to $5 million over four years. Another would allow $75 million over a year, though that one would require crypto companies to provide financial statements and other ongoing reporting. After a crypto asset issuer ceases "managerial efforts" that it promised during the sales, sales of the token could potentially leave the securities-law regime altogether.

The proposal will soon be published in the Federal Register, after which the SEC said it will take public comments for 60 days. After the comment period, the SEC can revise and finalize the rule, though there's no deadline to do so.

The proposal should make it easier for crypto firms to raise money through token sales. Under past administrations, the SEC had said most crypto offerings should be subject to securities laws. Token issuers argued that the rules for traditional assets shouldn't apply or were impossible to comply with, and the agency brought lawsuits against many firms for allegedly violating the law.

Many of those lawsuits were dropped when President Donald Trump took office, and the SEC has taken a starkly different tack during his second term. Atkins has explicitly said he wants to change the rules to encourage companies to expand their crypto business in the U.S. rather than offshore.

The rules announced Tuesday, dubbed "Regulation Crypto Assets," have been expected for months. Some analysts had speculated that the SEC was delaying issuing the rules to give Congress time to pass the so-called Clarity Act, which would remove most crypto trading from the SEC's purview. That law, however, stalled earlier this month.