The US Securities and Exchange Commission (SEC) has proposed new rules called "Regulation Crypto Assets" to create a tailored offering regime for certain investment contracts involving crypto assets. The proposal was published this week and aims to address disclosure challenges specific to crypto offerings, differing from traditional securities rules. Comments on the proposal will remain open for 60 days after its publication in the Federal Register, according to medianama.com.
The proposed rules apply only to a narrower category the SEC terms a "covered investment contract." This category includes contracts, transactions, or schemes that qualify as investment contracts where three conditions are met: a crypto asset is subject to the contract, the crypto asset is not itself a security, and no other asset or security is bundled into the same deal. Offerings involving equity alongside tokens would not fall under this framework, the SEC clarified.
This initiative follows the SEC's March 2026 interpretation that clarified how federal securities laws apply to crypto assets and related transactions. Existing SEC disclosure rules were designed for traditional securities such as stocks and bonds and do not adequately address crypto-specific factors like network security, token supply, and governance. The new rules aim to fill this gap by requiring disclosures more relevant to token buyers, potentially impacting how crypto projects raise funds in the US market.
The comment period for the SEC's Regulation Crypto Assets proposal will close 60 days after its Federal Register publication, setting a timeline for stakeholders to provide feedback. The SEC's efforts reflect ongoing regulatory adjustments to the evolving crypto asset landscape.