Regulation
SEC Sets July Targets for Token Offering, Custody and Market Structure Rules
01 Aug 2026, 09:48
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SEC Chair Paul Atkins pushed forward three crypto rulemaking proposals covering token offerings, custody and market structure for trading venues.
The US Securities and Exchange Commission set July 2026 as its internal target for advancing three major crypto rulemaking proposals covering token offerings, broker-dealer custody of digital assets, and market structure requirements for on-chain trading venues. The agenda, championed by SEC Chair Paul Atkins, marks one of the most concrete steps yet toward a formal regulatory framework for the industry after years of enforcement-led oversight.
According to people familiar with the agency's planning, the proposals are designed to bring more crypto activity onshore by giving companies clearer rules for raising capital through token sales, safely custodying digital assets on behalf of clients, and operating trading venues that blend traditional market structure with blockchain-based settlement. Atkins has framed the push as an attempt to replace years of case-by-case enforcement actions with predictable, written rules that both startups and established financial institutions can build around.
The custody proposal is expected to draw particular attention from banks and broker-dealers that have been reluctant to hold digital assets directly without explicit regulatory guidance. A clear custody framework could unlock participation from large institutions that have kept crypto activity at arm's length, routing exposure through ETFs or offshore entities rather than holding assets on their own balance sheets.
Market structure rules, meanwhile, would address a long-standing gap in how crypto trading venues are classified and supervised compared with traditional exchanges. Industry groups have pushed for rules that acknowledge the technical differences between on-chain settlement and legacy clearing systems, rather than forcing crypto platforms into frameworks built decades ago for equities and derivatives.
None of the three proposals had been finalized as of the agency's stated July target, and rulemaking of this scope typically involves public comment periods that can stretch the process well into next year. Even so, the fact that the SEC has committed to a public timeline is being read by many in the industry as a meaningful signal of intent after a long stretch of regulatory ambiguity.
According to people familiar with the agency's planning, the proposals are designed to bring more crypto activity onshore by giving companies clearer rules for raising capital through token sales, safely custodying digital assets on behalf of clients, and operating trading venues that blend traditional market structure with blockchain-based settlement. Atkins has framed the push as an attempt to replace years of case-by-case enforcement actions with predictable, written rules that both startups and established financial institutions can build around.
The custody proposal is expected to draw particular attention from banks and broker-dealers that have been reluctant to hold digital assets directly without explicit regulatory guidance. A clear custody framework could unlock participation from large institutions that have kept crypto activity at arm's length, routing exposure through ETFs or offshore entities rather than holding assets on their own balance sheets.
Market structure rules, meanwhile, would address a long-standing gap in how crypto trading venues are classified and supervised compared with traditional exchanges. Industry groups have pushed for rules that acknowledge the technical differences between on-chain settlement and legacy clearing systems, rather than forcing crypto platforms into frameworks built decades ago for equities and derivatives.
None of the three proposals had been finalized as of the agency's stated July target, and rulemaking of this scope typically involves public comment periods that can stretch the process well into next year. Even so, the fact that the SEC has committed to a public timeline is being read by many in the industry as a meaningful signal of intent after a long stretch of regulatory ambiguity.