The U.S. Securities and Exchange Commission (SEC) has formally submitted two significant regulatory proposals to the White House's Office of Management and Budget (OMB) for review, signaling a potential shift in the nation's approach to digital asset oversight. The filings, made public on March 23, 2026, via the reginfo.gov portal, were submitted on March 20.
The first and most notable proposal introduces a temporary "innovation exemption" for digital asset firms. This framework would allow qualifying companies to operate for up to 24 months without immediate SEC registration requirements, provided they demonstrate genuine technological innovation and adhere to specific operational limits, including transaction caps and consistent reporting. The measure is designed to offer regulatory clarity and a structured pathway toward full compliance, rather than indefinite delay.
The second proposal involves adjustments to Form PF, a disclosure form used by hedge funds and private equity firms to report risk exposure. The SEC has proposed delaying certain reporting requirements until October 1, 2026, to evaluate whether current rules impose unnecessary burdens on the industry while maintaining effective risk monitoring.
The OMB's review, which is expected to take up to 90 days, will assess the potential impact of these proposals on financial markets and crypto regulation. This coordinated regulatory effort, under SEC Chairman Paul Atkins, represents a move from strict enforcement toward a more adaptable oversight model that seeks to balance innovation with investor protection.
