The Securities and Exchange Commission is preparing new crypto rule proposals for exchanges and broker dealers as part of its 2026 regulatory agenda.

The agency’s active rule list includes two crypto focused items: “Crypto Market Structure Amendments” and “Amendments to Broker Dealer Financial Responsibility and Recordkeeping and Reporting Rules Regarding Crypto Assets.” Both are listed at the proposed rule stage, meaning the SEC has not yet adopted final rules.  

The market structure item could become one of the most important crypto policy tracks at the agency. It signals that the SEC is preparing to address how crypto assets trade, how platforms may need to register, and how securities market rules apply to digital asset venues.

The broker dealer item points to another key issue: custody and capital treatment. Broker dealers that handle crypto assets have faced uncertainty around how to meet financial responsibility, recordkeeping and reporting obligations when dealing with digital assets instead of traditional securities.

The agenda follows the SEC’s March interpretive release clarifying how federal securities laws apply to certain crypto assets and crypto transactions. That release was listed under the agency’s rulemaking activity and framed as part of the SEC’s broader effort to define when crypto transactions fall under securities laws.  

The rulemaking push also comes after the SEC removed crypto from its dedicated 2026 examination priorities. Reuters reported that the agency no longer listed crypto asset related services as a standalone exam focus, marking a shift from prior years.  

That does not mean crypto is leaving the SEC’s agenda. The new rule list suggests the agency is shifting from enforcement and examination emphasis toward formal rulemaking, especially around trading platforms and intermediaries.