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SEC Chair Atkins Says ‘Reg Crypto’ Proposal Nears Publication

SEC Chair Paul Atkins said the SEC Reg Crypto proposal covering startup and fundraising exemptions is one step from publication, signaling that a formal crypto capital-raising framework is moving out of speeches and into the federal rulemaking pipeline. For token issuers, NFT builders, and legal teams, that shift matters because it would open the door to public comment on exemptions the agency has already sketched in concrete terms.

TLDR Keypoints

  • Reginfo shows the SEC’s “Crypto Assets” proposal is in OIRA review, which supports Atkins’ description that publication is the next procedural step.
  • Atkins’ March framework outlined a startup exemption, a larger fundraising exemption, and a safe-harbor concept instead of relying only on enforcement.
  • The text is not public yet, so the market has thresholds and process signals, but not final definitions or conditions.

OIRA review is the evidence behind Atkins’ publication claim

In a March 17, 2026 SEC speech, Atkins said he expected the Commission in the coming weeks to consider releasing a proposed Regulation Crypto Assets rule for public comment.

Reginfo shows SEC RIN 3235-AN38, titled “Crypto Assets,” in pending EO 12866 review at OIRA, with a received date of 03/20/2026 and a Proposed Rule stage. That status is the clearest official support for Atkins’ claim that the package is one step from publication.

The SEC’s Unified Agenda entry says the agency is considering rules for the offer and sale of crypto assets that may include exemptions and safe harbors, and it lists NPRM timing as 04/00/2026. The materials provided here do not confirm a more precise publication date than that agenda window.

That sequencing also matches Atkins’ more recent public update. Cointelegraph reported from the SEC’s April 6, 2026 digital assets policy summit that Atkins said the proposal was “at OIRA right now”, describing that review as the next stop before publication.

The proposal’s known contours are unusually specific for a prepublication rule

Atkins’ March framework said a startup exemption could last up to four years and let entrepreneurs raise up to $5 million during that period. Those figures matter because they give founders a draft compliance lane before the formal proposal text is even public.

The same framework said a fundraising exemption could let entrepreneurs raise up to $75 million during any 12-month period while still relying on other federal securities-law exemptions. Read together, the $5 million and $75 million caps suggest the SEC is separating small-network bootstrapping from larger capital formation.

Atkins also used the March remarks to outline an investment contract safe harbor, which matches the Unified Agenda language on exemptions and safe harbors rather than a purely enforcement-led approach. For builders, that matters because a published proposal would move these ideas into notice-and-comment instead of leaving them at speech level.

Coin Center has pressed the SEC to use that formal route. In written input filed with the agency, Peter Van Valkenburgh argued for a safe harbor through notice and comment rather than through informal guidance alone.

“A formal safe harbor adopted through notice and comment would enhance clarity, legitimacy, and durability.”

Peter Van Valkenburgh, via Coin Center’s written input to the SEC

Why NFT and token founders will watch the text, not just the headline

For NFT studios, token issuers, and AI x Web3 teams, the importance is not just that the rule is moving but that the known thresholds are already concrete. A $5 million startup lane and a $75 million fundraising lane would affect how token sale plans, disclosure memos, and launch timing are drafted.

That is why U.S. builders tracking other policy shifts, from Japan’s crypto tax win and the 2028 timeline to International Pix and Mercado Coin’s exit in Brazil, are likely to watch the SEC docket closely. A published proposal would not settle the debate, but it would move the discussion onto defined text, comment periods, and exemption design.

Builders coming out of forums such as TEAMZ Summit 2026’s AI x Web3 panel still do not know the proposal’s precise conditions, disclosure standards, or token definitions. What they do know is that OIRA has the package, the Unified Agenda keeps exemptions and safe harbors in scope, and Atkins has already attached $5 million and $75 million benchmarks to the conversation.

The next concrete milestone is publication of the proposal itself. Until that text appears, the cautious reading is narrow: the record confirms White House review, the agenda confirms exemptions and safe harbors are under consideration, and Atkins has framed publication as the immediate next procedural step.

Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.