The SEC wants to give crypto founders a written path to raise money in the US, and it is taking public comments on the draft until Oct. 20, 2026. The proposal is called Regulation Crypto Assets, and it landed in the Federal Register on Aug. 21, 2026, with a 60-day comment window that runs from that date.

None of it is usable yet. The exemptions, the safe harbor and the state-law preemption are all still proposals. Until a final rule takes effect, issuers cannot rely on any of them, as law firm A&O Shearman notes in its reading of the proposal.

The proposal follows the Commission’s March 2026 interpretation of how the federal securities laws apply to certain crypto assets and transactions, and it is filed as File No. S7-2026-27, under RIN…