SEC advances crypto regulatory agenda with proposals on token offerings, custody, market structure

The US Securities and Exchange Commission (SEC) on Tuesday unveiled an expansive crypto regulatory agenda for 2026. The regulator outlined plans to formalize oversight of digital assets through new rules governing token offerings, custody, trading platforms and broker-dealer operations.

The proposals are expected to complement broader efforts by Congress to establish a comprehensive regulatory framework for digital assets.

SEC prepares crypto asset regulatory framework

At the center of the agenda is the Crypto Assets rulemaking, which has been designated as economically significant and is scheduled for a Notice of Proposed Rulemaking (NPRM) this month.

The SEC's Division of Corporation Finance is considering rules governing the offer and sale of crypto assets. These include potential exemptions and safe harbors intended to clarify regulatory obligations for issuers while providing greater certainty to market participants.

“The proposed rules may provide greater certainty to the market, facilitate capital formation, and accommodate innovation within the crypto asset markets,” the agenda stated.

The proposal builds on the SEC's joint guidance with the Commodity Futures Trading Commission (CFTC) issued in March. The guidance introduced a taxonomy categorizing digital assets as digital commodities, collectibles, utility tools, stablecoins and digital securities.

Beyond token issuance, the SEC is advancing several additional rulemakings targeting key areas of the digital asset industry.

The agency is proposing amendments to broker-dealer financial responsibility and recordkeeping requirements for crypto assets, as well as revisions to custody rules governing how broker-dealers and investment advisers safeguard digital assets on behalf of clients.

The SEC is also planning Crypto Market Structure Amendments, which would update Exchange Act rules governing the trading of crypto assets on alternative trading systems (ATS).

As a result, the proposals are intended to address longstanding regulatory uncertainty surrounding crypto issuance, custody, trading, and market intermediaries while establishing clearer compliance pathways for legitimate market participants.

The initiatives form part of the SEC's broader Crypto Task Force and Project Crypto, an agency-wide effort to modernize securities regulations for blockchain-based financial markets. The program focuses on developing tailored disclosure requirements, practical registration pathways, and greater coordination with the CFTC.

If adopted, the rules could reshape how crypto projects raise capital, how digital asset trading platforms operate, and how traditional financial institutions engage with blockchain-based assets. The proposals will be subject to publication time and consultation before any final rules are adopted.