SEC Revives Crypto Fundraising Rules After Wall Street Pushback

The U.S. Securities and Exchange Commission is pursuing Regulation Crypto Assets, a tailored fundraising regime for investment contracts involving digital assets. The initiative would give token issuers exemptions and a safe harbor from full securities registration, potentially replacing years of case-by-case enforcement with defined compliance routes. Its importance extends beyond crypto startups: Wall Street firms argue that broad exemptions could weaken investor protections, encourage regulatory arbitrage and exceed the SEC’s authority without explicit congressional backing.

The SEC canceled an Aug. 14, 2026 vote after the Securities Industry and Financial Markets Association, or SIFMA, threatened legal action and the White House raised concerns, but the agency returned with a proposal on Aug. 18. The plan would allow eligible startups to raise as much as $5 million over four years and provide a broader exemption of up to $75 million in 12 months. Regulators and the administration are also watching the CLARITY Act, which Congress is expected to revisit in September.