The SEC plans to introduce its long-awaited crypto rulemaking as soon as this month, according to an updated agency agenda for 2026 that pencils in a potential July release. The proposal would govern the offer and sale of crypto assets and include exemptions and safe harbors for certain on-chain financial activity, bringing the agency closer to establishing a regulatory framework for crypto-related activities in the United States. The move follows months of anticipation after SEC Chair Paul Atkins initially said the rules would be rolled out in January, and comes as Congress' broader Clarity Act faces an uncertain path before the November midterms.
SEC Agenda Lists July as Potential Release Month
The SEC said Tuesday it plans to introduce its long-awaited crypto rulemaking as soon as this month. An updated SEC agenda for 2026 has the rule penciled in for a potential July release, which would then be followed by a period of public comment on the proposed policies. The agenda update marks the clearest indication yet that the SEC is preparing to formally unveil its Regulation Crypto proposal, which Atkins has teased for months.
Proposed Rules to Include Exemptions for Tokenized Securities and DeFi
The rules would govern the offer and sale of crypto assets, and also include "certain exemptions and safe harbors" for various types of on-chain financial activity. The exemptions would hand crypto companies a guarantee that activity in certain areas, such as tokenized securities and decentralized finance, or DeFi, would not trigger enforcement action from the SEC. "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 Tuesday in a statement.
Atkins Detailed Safe Harbor Thresholds in March Statement
In March, the SEC chair said a crypto safe harbor could apply to startups worth up to $5 million seeking to experiment with crypto assets in their first four years; to entrepreneurs raising up to $75 million via investment contracts involving certain crypto assets; and to certain crypto assets once their creators have ceased all essential managerial efforts.
Clarity Act Faces August Deadline in Senate
Atkins previously emphasized that the uncertain status of Congress' Clarity Act—a sweeping bill that would legalize most crypto activity in the United States—had impacted the SEC's rollout of its own crypto rules. After over a year of starts and stops, the Clarity Act faces a do-or-die next few weeks in the Senate. Stakeholders broadly agree that if the bill does not pass by August, it is unlikely to become law this year, due to the looming November midterm elections.
FAQ
When will the SEC introduce its crypto safe harbor rules?
The SEC plans to introduce its crypto rulemaking as soon as this month, with an updated agency agenda for 2026 listing July as the potential release month. The proposal would then be followed by a period of public comment.
What types of crypto activities would be covered by the SEC's safe harbor exemptions?
The proposed rules would include exemptions and safe harbors for certain on-chain financial activity, including tokenized securities and decentralized finance (DeFi). In March, SEC Chair Paul Atkins said safe harbors could apply to startups worth up to $5 million in their first four years, entrepreneurs raising up to $75 million via investment contracts involving certain crypto assets, and certain crypto assets once their creators have ceased all essential managerial efforts.
How does Congress' Clarity Act relate to the SEC's crypto rulemaking?
SEC Chair Paul Atkins previously emphasized that the uncertain status of Congress' Clarity Act had impacted the SEC's rollout of its own crypto rules. The Clarity Act faces a do-or-die next few weeks in the Senate, with stakeholders broadly agreeing that if the bill does not pass by August, it is unlikely to become law this year due to the looming November midterm elections.
