North America: Technology

On Aug. 18, 2026, the U.S. Securities and Exchange Commission (SEC or Commission) issued a 402-page proposing release for Regulation Crypto Assets (Proposed Rules), which would establish a standalone offering framework for certain investment contracts involving crypto assets. The proposal is the SEC’s first formal effort to create an offering regime specifically tailored to covered investment contracts involving crypto assets. Until now, market participants have largely relied on previously issued no-action letters, interpretative releases, and written staff guidance relating to these assets to address crypto-related concerns under frameworks developed for traditional securities.

Ankura provides expert insights across cybersecurity, data privacy, financial services, and corporate governance. From emerging cyber threats targeting critical infrastructure to new regulatory frameworks reshaping private equity valuations and UK corporate governance requirements, these analyses examine the evolving challenges facing organizations in 2026. How are businesses adapting to heightened security risks, regulatory scrutiny, and operational complexities?

The Securities and Exchange Commission (SEC) has proposed the first registration-exempt offering pathway designed specifically for crypto assets. On August 18, 2026, the SEC proposed Regulation Crypto Assets, which would create a tailored securities offering regime for certain investment contracts involving crypto assets (covered investment contracts). The proposal represents the SEC’s first crypto-specific offering framework, signaling the SEC’s intent to establish a structured exemptive regime through rulemaking even as Congress continues to debate comprehensive digital asset legislation.