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ARTICLE · 01 SEPTEMBER 2026

A Step Towards Clarity: SEC Proposes Regulation Crypto Assets

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The Securities and Exchange Commission has proposed Regulation Crypto Assets, establishing a comprehensive regulatory framework for investment contracts involving crypto assets. This landmark proposal introduces two new exemptions from Securities Act registration requirements—a Startup Exemption for offerings up to $5 million over four years and a Fundraising Exemption for offerings up to $75 million annually—while also providing a conditional safe harbor from the investment contract definition

United StatesFinance and Banking
Jeremy Moorehouse
Jeremy Moorehouse
Tiffany Smith
Tiffany Smith
Glenn R. Pollner
Glenn R. Pollner
Joshua Nathanson
Joshua Nathanson
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On August 18, 2026, the Securities and Exchange Commission (SEC or Commission) proposed Regulation Crypto Assets, which would establish a regulatory framework for offerings of certain investment contracts involving crypto assets (Covered Investment Contracts).1 This is the SEC’s first proposal designed expressly for crypto asset offerings, and it represents a significant development for an industry that has sought durable, fit-for-purpose guidance on these issues for years. While important questions remain and the proposal could change before any final rules are adopted, Regulation Crypto Assets would provide clarity on issues that have long been the subject of uncertainty and enforcement-driven regulation.

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