The U.S. Securities and Exchange Commission is preparing to release a proposed crypto safe harbor framework for public comment as early as this month. SEC Chairman Paul Atkins said the proposal is meant to create clearer regulatory routes for tokenized securities, decentralized finance, digital asset custody, and other on-chain activity, while reducing enforcement uncertainty and keeping investor protections in place.
The framework is part of the SEC’s 2026 rulemaking agenda. The agency said the effort fits into a broader push to modernize financial regulation and support innovation in digital assets. It plans to introduce exemptions and safe harbors for certain blockchain-based financial activity, opening legal pathways for crypto fundraising and other on-chain transactions.
ICOs, staking rewards, and airdrops are on this month’s agenda
The SEC has also scheduled an agency meeting this month to discuss several crypto-related rule proposals. According to the meeting agenda, regulators will review proposed exemptions covering initial coin offerings, staking rewards, and airdrops. They will also examine new requirements for crypto exchanges, broker-dealers, and alternative trading systems.
The discussion is not limited to trading venues. Officials also plan to address institutional on-chain custody of digital assets. The proposal is expected to clarify how market participants can facilitate trading and custody while staying within federal rules, including conditions for the trading of tokenized real-world assets.
Draft also addresses DeFi interfaces and token status changes
One of the more closely watched sections concerns DeFi. Under the proposal, front-end developers would not have to register as broker-dealers if they do not execute transactions on the platforms they build. That would draw a clearer line between software development and regulated market intermediation.
The SEC also plans to discuss how digital tokens could move out of securities classification once their networks become sufficiently decentralized. After the meeting, the agency expects to publish draft rules for public comment before adopting final regulations later this year.
Atkins said the rulemaking agenda is intended to encourage innovation, protect investors, and support capital formation. The SEC added that the effort aligns with the administration’s goal of expanding digital asset activity in the United States. Congress is also preparing to consider the CLARITY Act later this month.