TLDR
- The SEC listed three crypto-related items in its 2026 Regulatory Agenda.
- The SEC may amend broker-dealer capital and customer protection rules.
- Broker-dealer recordkeeping rules may be updated for crypto assets.
- The SEC is considering exchange rule changes for digital asset trading.
- Paul Atkins said the SEC plans clearer rules for crypto capital raising.
The U.S. Securities and Exchange Commission included crypto rule changes for exchanges and broker-dealers in its 2026 Regulatory Agenda, setting up possible proposals before the end of the year.
The agenda lists three crypto-related items, including possible amendments to broker-dealer capital, customer protection, and recordkeeping rules. The SEC said the changes would address how those rules apply to crypto assets.
SEC Chair Paul Atkins said the agency is working to support capital formation, investor protection, and clearer rules for digital assets. The agenda also includes plans for crypto capital raising, tokenized securities custody, and onchain trading.
SEC Targets Broker-Dealer Crypto Rules
The SEC is considering changes to broker-dealer rules that govern minimum liquid capital. These rules are designed to make sure brokers keep enough capital to meet financial duties.
The agency is also reviewing customer protection rules that apply when a broker becomes insolvent. The proposed changes would address how customer crypto assets are handled under existing market rules.
Recordkeeping requirements for broker-dealers are also under review. The SEC said the planned changes would focus on “the application of these rules to crypto assets.”
The proposals could affect firms that handle crypto assets, tokenized securities, or related products through broker-dealer structures. Any rule change would still need a formal proposal, public comment, and final approval.
Exchange Rule Changes Also Planned
The SEC is also considering updates to exchange rules tied to digital asset trading. The agency said the proposal is needed to clarify how crypto assets fit into the regulatory framework.
The SEC said, “This proposal is necessary to help clarify the regulatory framework for crypto assets and provide greater certainty to the market.”
The agency said the proposal would focus on clear rules for the issuance, custody, and trading of crypto assets. The statement also said the SEC would continue to discourage unlawful conduct.
The exchange-related proposal would form part of a broader shift toward formal crypto rulemaking under Atkins. The SEC has already released guidance and staff statements, but formal rules carry greater legal force.
Atkins Pushes Crypto and Tokenization Agenda
Atkins said the SEC is embracing innovation and working to bring more financial products onshore. He linked the agenda to President Donald Trump’s goal of making the United States a leading crypto market.
The SEC chair said the agency is creating “clear rules of the road for capital raising with crypto assets.” He also said the SEC wants clarity on how market participants can custody and trade tokenized securities onchain.
The agenda includes a crypto capital raising proposal that could provide safe harbors and exemptions. The SEC said such rules may give the market more certainty while keeping investor protections in place.
The agency’s approach differs from the prior leadership’s enforcement-heavy crypto stance. Under Atkins, the SEC has moved toward more tailored rules and exemptions for digital asset activity.
Public Market Reforms Stay on Agenda
The 2026 agenda also includes non-crypto proposals, including reduced compliance burdens for emerging companies. The SEC is considering changes that could allow some companies to file reports twice a year.
Atkins said the agency wants to revive public markets and make IPOs more attractive. The agenda includes disclosure reforms aimed at reducing costs while preserving investor protections.
The SEC is also reviewing private market access for retail investors. Atkins said the agency wants a framework that is transparent, accessible, and protected by safeguards.
