Regulatory clarity for crypto assets has become a central focus for the U.S. Securities and Exchange Commission (SEC) in 2025. Chairman Paul Atkins recently emphasized that establishing clear rules for the issuance, custody, and trading of cryptocurrencies is a key priority for the agency. The SEC aims to support innovation, facilitate capital formation, boost market efficiency, and strengthen investor protection through its new regulatory agenda.

The SEC’s latest proposals introduce several important changes. Among the planned rules are provisions for exemptions and safe harbors that would clarify when certain tokens can be offered without full securities registration, provided they meet disclosure and custody standards. Other proposals would update how crypto assets are handled in the custody of advisory clients and funds, and revise trading rules for digital assets on alternative trading systems and national securities exchanges.

A notable shift in 2025 is the SEC’s move away from an enforcement-first approach in favor of well-defined regulatory standards. The agency is working closely with other regulators, such as the Commodity Futures Trading Commission (CFTC), to ensure jurisdictional clarity and create a structured pathway for innovation in digital finance.

With initiatives like “Project Crypto,” the SEC is also seeking to modernize existing securities rules to accommodate on-chain transactions and facilitate the integration of tokenized assets, including stocks and bonds, into decentralized finance platforms. The agency is prioritizing the creation of straightforward guidelines for distinguishing between different types of crypto assets, such as securities, stablecoins, and digital commodities, to eliminate confusion and reduce compliance burdens.

Industry stakeholders are encouraged to participate in the rulemaking process by submitting comments, as public feedback will play a significant role in shaping the final regulatory framework. The SEC’s renewed focus on transparency and predictability is expected to provide much-needed certainty for issuers, exchanges, custodians, and investors navigating the evolving world of digital assets.