The U.S. Securities and Exchange Commission will vote this week on a proposal to start its first major crypto rulemaking process. The regulation, called "Reg Crypto," is designed to support certain digital asset offerings. If approved, it would give the crypto industry its first formal rule from the agency.
What the proposal covers
The SEC has not released the full text of the proposal, and it's unclear which digital assets would qualify. The agency said the rule is meant to support certain offerings, but the details are still under wraps. That's left the industry guessing about the scope — whether it will cover tokens, stablecoins, or something else entirely.
A shift from enforcement
The SEC has spent years policing crypto through enforcement actions, going after companies it says violated securities laws. This proposal would be a different approach: writing a rule that tells the industry what's allowed. The move signals a change in how the SEC handles crypto, moving from case-by-case enforcement to a formal framework. The agency hasn't said why it chose this route, but the timing isn't a surprise — the crypto market has been pressing for clarity for years.
The vote is expected to take place later this week. If the proposal passes, it would be published for public comment, a standard step in the rulemaking process. The SEC would then review comments and could adopt a final rule. That process typically takes months, so any final version wouldn't land until well into 2027.
The SEC has not commented on the timing or the specifics of the vote. The outcome will be announced after the meeting.
