On August 18, 2026, the Securities and Exchange Commission (SEC or Commission) proposed Regulation Crypto Assets, which would establish a regulatory framework for offerings of certain investment contracts involving crypto assets (Covered Investment Contracts).1 This is the SEC’s first proposal designed expressly for crypto asset offerings, and it represents a significant development for an industry that has sought durable, fit-for-purpose guidance on these issues for years. While important questions remain and the proposal could change before any final rules are adopted, Regulation Crypto Assets would provide clarity on issues that have long been the subject of uncertainty and enforcement-driven regulation.
The proposal…
