Overview

• Proposed rule changes would update decades-old SEC regulations to enable trading, settlement and custody of digital assets on blockchain networks.
• Broker-dealer licensing reforms would allow multiple asset types under a single registration, lowering entry costs for crypto firms.
• Clear taxonomy guidelines would formally distinguish securities from commodities, resolving longstanding legal uncertainty over asset classification.
• The SEC plans to introduce exemption pathways and grace periods for early-stage token sales, initial coin offerings and decentralized applications.
• Chair Paul Atkins cast the initiative as a shift from aggressive enforcement under Gary Gensler toward an innovation-friendly approach aligned with President Trump’s crypto agenda.