SEC targets crypto market overhaul with three major rule proposals

The U.S. Securities and Exchange Commission has added three major crypto-related rule proposals to its 2026 regulatory agenda, expanding its work on digital asset regulation while Congress continues to debate the CLARITY Act.

According to the SEC’s Agency Rule List, the commission is considering separate rulemaking projects covering crypto assets, crypto broker-dealers, and crypto market structure. Together, the proposals would address how digital assets are issued, traded, and handled by regulated financial firms, while providing new guidance in areas that have long lacked clear federal rules.

The proposal covering crypto assets would explore regulations for the offer and sale of digital assets, including potential exemptions and safe harbors. The SEC said these measures could clarify the regulatory framework for crypto assets and provide more certainty for market participants.

The initiative follows the commission’s recently proposed innovation exemption, which would allow eligible firms to issue and trade tokenized U.S. stocks under specific conditions.

New rules extend across crypto trading and broker-dealers

Another proposal focuses on broker-dealers that deal with crypto assets. The SEC’s Division is considering recommending amendments to Rules 15c3-1 and 15c3-3, along with other broker-dealer financial responsibility rules and Rules 17a-3 and 17a-4, to address how existing requirements apply to digital assets.

Earlier this year, the SEC also outlined conditions under which certain decentralized finance platforms could operate without registering as broker-dealers. At the same time, the commission is separately seeking public comments on several novel exchange-traded fund proposals, including prediction market ETFs.

A third proposal listed in the regulatory agenda concerns crypto market structure. Under the plan, the Division is considering recommending amendments to Exchange Act rules governing the trading of crypto assets on alternative trading systems (ATSs) and national securities exchanges.

Speaking previously about the agency’s regulatory direction, SEC Chair Paul Atkins said the commission is embracing innovation by bringing more financial products onshore, creating clearer capital-raising rules for crypto businesses, and providing regulatory clarity for tokenized securities.

Atkins linked those efforts to President Donald Trump’s stated objective of making the United States the world’s crypto capital.

Congress continues work on the CLARITY Act

While the SEC advances its own rulemaking process, lawmakers are still negotiating the CLARITY Act, one of the most significant crypto market structure bills under consideration in Congress.

The legislation did not become law before the previously discussed July 4 timeline, despite earlier optimism expressed by White House crypto adviser Patrick Witt. Attention has now turned to Aug. 7, the Senate’s final scheduled session day before lawmakers leave for the summer recess.

Crypto.news previously reported that the CLARITY Act has already passed the House of Representatives, cleared the Senate Banking Committee, and remains on the Senate calendar awaiting a full Senate vote.

Before floor consideration can proceed, Senate staff are still reconciling separate versions produced by the Agriculture and Banking Committees because both panels oversee different parts of digital asset policy.

More recently, crypto.news reported that Senator Bill Hagerty outlined a revised Senate roadmap that could see final legislative text released before lawmakers return from recess. Bloomberg Intelligence has estimated the bill has roughly a 60% chance of passing this month.

Still, crypto.news has also reported that the legislation will likely require 60 Senate votes, meaning Republican lawmakers will need Democratic support before the proposal can move closer to President Trump’s desk.