SEC Unveils Proposed "Regulation Crypto Assets" Rule Set to Create a Securities Offering Regime for Crypto Investment Contracts

The U.S. Securities and Exchange Commission said it has formally proposed new rules titled "Regulation Crypto Assets," seeking to create a dedicated securities offering framework for investment contracts involving crypto assets. The proposal was released on Aug. 18, 2026, according to the SEC's website. The package includes two registration exemptions. One would cap fundraising at $5 million over a four-year period. The other would permit up to $75 million in any rolling 12-month period, with issuers required to provide financial statements and make ongoing disclosures. The SEC also proposed a conditional safe harbor that, if certain requirements are met, would allow qualifying crypto assets to fall outside securities treatment under the "investment contract" analysis. SEC Chair Paul S. Atkins said the initiative is intended to offer compliant financing routes for crypto entrepreneurs, reduce incentives for projects to operate offshore, and broaden access for U.S. investors. After publication in the Federal Register, the proposal will be open for public comment for 60 days.