US Securities Regulator Plans a "Reg Crypto" Rule as Soon as This Month to Ease Token Fundraising

The Securities and Exchange Commission (SEC) intends to propose a dedicated crypto rule, informally called Regulation Crypto, as soon as this month, CoinDesk reported, citing the agency's updated regulatory agenda. The measure would create registration exemptions and a safe harbor allowing developers to raise money by issuing tokens without triggering the full requirements of securities registration, provided they meet defined conditions and stay within capped fundraising amounts.

The plan marks a departure from the prior era, when the SEC pursued crypto firms largely through case-by-case enforcement actions rather than written rules. Under chair Paul Atkins, the agency has signaled that it will set out clear requirements in advance, framing the effort as its first major crypto-specific rulemaking.

The proposal would still need to pass through a public comment period and a commission vote before taking effect. For token issuers based in the United States, a workable rule would replace open-ended legal exposure with a defined path to compliance, while raising the cost of remaining offshore.