U.S. SEC Plans to Unveil "Regulation Crypto" Proposal in July, Aiming to Ease Rules for Startups and Fundraising
AI Market Summary
The SEC's agenda signals a July proposal for "Regulation Crypto", including temporary registration exemptions, limited fundraising allowances, and a safe harbor for certain issuers. A formal rulemaking framework would reduce key regulatory frictions versus staff guidance, potentially lowering compliance uncertainty for token launches and onshore capital formation. The agenda also points to parallel work on custody and tokenized securities, tightening the policy focus on crypto market structure.
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● High
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The U.S. Securities and Exchange Commission plans to advance a new cryptocurrency rule proposal as early as this month that could significantly reduce certain securities-law compliance burdens for crypto firms, according to an updated regulatory agenda highlighted Tuesday.
The initiative, referred to as "Regulation Crypto," would create time-limited registration exemptions for developers launching crypto investment contracts, permit a defined level of fundraising, and establish a safe harbor for issuers that step back from managerial activities tied to a security. SEC Chair Paul Atkins first sketched those elements in March.
The proposal would be among the SEC's first major efforts explicitly aimed at supporting crypto businesses, following the agency's earlier release of a digital-asset "taxonomy" intended to clarify how tokens are defined and handled for regulatory and jurisdictional purposes. The SEC is also developing a framework to encourage tokenized securities.
"To deliver on President Trump’s goal to ensure that the United States is the crypto capital of the world, we are embracing innovation to bring more products onshore, creating clear rules of the road for capital raising with crypto assets, and providing clarity as to how market participants can custody and facilitate trading of tokenized securities onchain," Atkins said in a statement Tuesday, placing the crypto agenda at the top of the agency's rulemaking priorities.
With a crypto market structure bill stalled in Congress, the SEC has been viewed as a key venue for regulatory progress sought by the industry, even as the agency has at times moved more slowly than expected. In mid-March, Atkins said a proposal would come in the "coming weeks."
The latest SEC agenda now targets July for "Regulation Crypto," though it remains under review at the White House Office of Information and Regulatory Affairs. If released, it would be the first major crypto-specific rulemaking pursued under Atkins' leadership.
While the SEC has issued numerous staff statements and guidance on crypto, those documents do not carry the force of formal rules, which are harder to reverse when leadership changes. The agenda also lists other significant crypto-related initiatives, including rules on asset custody and broader crypto market structure.
