The U.S. Securities and Exchange Commission has included three rulemakings covering crypto issuance and trading, and intermediary regulation in its official 2026 regulatory agenda. Detailed rules have not yet been released, but the process to set legal standards across the crypto market appears to be moving into full swing.

On July 8 local time, blockchain media outlet The Defiant reported that the SEC included three items in its 2026 unified regulatory agenda: digital asset offerings and sales, broker-dealer regulation and crypto market structure. It presented July this year as the target timing to publish proposed rules for all three items.

The information was confirmed through agency-by-agency rule lists posted on the U.S. government regulatory information site Reginfo.gov. All three items are currently classified at the "proposed rule" stage, and specific regulatory text has not been disclosed. The July timing presented by the SEC is also a target, not a fixed schedule.

The first item being pursued is a "crypto asset" rule. The regulation addresses procedures for digital asset offerings and sales, and it also considers exemptions for projects that meet certain conditions and the possible introduction of a Safe Harbor. The market views the key issues as which projects could qualify for regulatory exceptions and how much legal protection could apply during initial token issuance and fundraising.

The second item is revisions to broker-dealer-related rules. The SEC plans to amend the net capital rule (15c3-1), the customer protection rule (15c3-3) and recordkeeping rules (17a-3 and 17a-4) to establish standards that can also apply to crypto businesses. This is seen as a step to clarify how brokerages, intermediaries and custodians handling crypto should manage and safeguard customer assets, and how capital requirements and accounting standards should be applied.

The third is a revision to crypto market structure. The SEC plans to revise Securities Exchange Act rules applied to crypto trading conducted on alternative trading systems (ATS) and U.S. securities exchanges to make the market regulatory framework clearer.

The commission explained that the rules are aimed at providing a clearer regulatory framework across crypto issuance, custody and trading, and reducing legal uncertainty for market participants.

The move is significant in that it turns the SEC's recently presented policy direction into concrete rulemaking procedures. In a draft strategic plan released in June, the SEC set the establishment of digital asset rules as a core task, and in May it also disclosed an innovation exemption framework for trading tokenised securities.

It is interpreted as a sign that crypto regulation is moving beyond setting policy direction and entering the stage of legislative notice of proposed rules.

Legislative discussions in Congress are also under way. The U.S. Congress is currently continuing negotiations over the CLARITY bill, which comprehensively addresses crypto market structure. The bill has not yet passed a full Senate vote, and Congress views Aug. 7, before the summer recess, as a key timing for handling it.

The market expects that if SEC rulemaking and congressional legislation proceed at the same time, the institutional framework for the U.S. crypto industry will take shape quickly.

Key points to watch are whether the SEC will release actual draft rules in line with its announced timing, and what conclusion the congressional debate over the CLARITY bill reaches. In particular, the scope of exemptions at the digital asset issuance stage, intermediaries' capital and customer asset protection standards, and the legal status of trading platforms are expected to directly affect how the U.S. crypto market operates.