The U.S. Securities and Exchange Commission will vote Friday on whether to propose a new offering framework specifically designed for certain investment contracts involving crypto assets.
The open meeting is scheduled for August 14 at 10 a.m. ET at the SEC’s Washington headquarters, with public access available through the agency’s webcast. The Division of Corporation Finance is presenting the proposal to commissioners.
Approval would move the framework into formal rulemaking rather than make the new requirements immediately effective.
SEC Targets Crypto Investment Contract Offerings
The proposal represents the next stage of the SEC’s effort to separate crypto assets themselves from investment contracts created around their sale.
A March interpretation established several crypto asset categories and clarified that a non-security token can still become subject to federal securities laws when sold alongside promises of essential managerial efforts that create an investment contract. That relationship can later end when those promises have been fulfilled or are no longer reasonably connected to the asset.
The upcoming rules would address how issuers can actually conduct offerings when an investment contract does exist.
SEC Chair Paul Atkins has outlined possible pathways including principles-based disclosures tailored to crypto projects, limited fundraising exemptions and an investment-contract safe harbor. One model could allow qualifying issuers to provide information resembling crypto white papers rather than applying every disclosure requirement designed for conventional public companies.
Project Crypto Moves From Guidance Into Rulemaking
The vote advances the broader Project Crypto initiative launched to modernize securities rules for onchain markets.
