The U.S. Securities and Exchange Commission (SEC) has laid the groundwork for formal cryptocurrency rulemaking by including three crypto-related items in its 2026 Regulatory Agenda. The proposals aim to amend rules for exchanges and broker-dealers to better accommodate digital asset trading and custody, marking a significant policy shift under Chairman Paul Atkins away from the enforcement-heavy approach of previous years.
The agenda, released on Tuesday, outlines potential changes that could reshape how crypto platforms and traditional financial intermediaries handle digital assets. The SEC is considering modifying broker-dealer recordkeeping rules, customer asset protection requirements, and minimum net capital rules — all with the explicit goal of addressing “the application of these rules to crypto assets.” Additionally, a separate proposal would update exchange definitions to cover platforms that trade digital asset securities, providing a pathway for regulated trading of tokenized securities.
“This proposal is necessary to help clarify the regulatory framework for crypto assets and provide greater certainty to the market, and in particular, providing clear rules of the road for the issuance, custody, and trading of crypto assets while continuing to discourage bad actors from violating the law,” the SEC stated in the agenda.
The move signals a deliberate pivot from the tenure of former Chairman Gary Gensler, who often relied on enforcement actions and litigation to define the boundaries of crypto regulation. Under Atkins, the SEC has dropped many of those cases and issued joint guidance with the Commodity Futures Trading Commission in March asserting that most cryptocurrencies are not securities. The new rulemaking effort includes possible safe harbors and exemptions for crypto offerings, aiming to foster capital formation and innovation while ensuring investor protection.
While the full text of the proposals has not been released, the SEC indicated that the rules would “provide greater certainty to the market, facilitate capital formation, and accommodate innovation.” Market participants have long cited regulatory uncertainty as a major barrier to institutional adoption in the United States, and the shift toward formal rulemaking could reduce legal risks for exchanges, custodians, and token issuers. However, the process is expected to be lengthy, involving public comment periods, revisions, and final adoption that may extend well beyond 2026.
