SEC considers new rules for onchain markets and crypto vaults
Updated
Updated · CoinDesk · May 8
SEC considers new rules for onchain markets and crypto vaults
14 articles · Updated · CoinDesk · May 8
Chair Paul Atkins told the AI+ Expo in Washington the review also covers blockchain settlement infrastructure and AI-driven financial applications.
He said current securities rules built for brokers, exchanges and clearinghouses do not fit software protocols that execute trading, collateral management, liquidity routing and settlement together.
The move extends the SEC's shift from Gary Gensler's enforcement-led approach toward formal rulemaking, while Atkins also backed congressional crypto market structure efforts including the CLARITY Act.
Will the SEC's new rulebook reclaim crypto innovation from offshore hubs, or is it too little, too late?
With T+0 settlement making risk instantaneous, are traditional 'clearing agency' rules now obsolete for onchain finance?
As the SEC targets crypto vaults, can decentralized yield products ever truly match the security of traditional bank accounts?
Navigating 2026 U.S. Crypto Regulation: SEC-CFTC Guidance, Broker-Dealer Compliance, and Market Transformation
Overview
In March 2026, the SEC and CFTC issued joint guidance establishing a clear framework for crypto assets, introducing a five-category taxonomy and clarifying that tokens can shift from securities to non-securities as projects evolve. This guidance, alongside the GENIUS Act's stablecoin regulations, spurred significant market growth, including a 49% surge in stablecoins and increased institutional investment through ETFs and public listings. The SEC also advanced broker-dealer custody rules and temporarily exempted certain app providers from registration, fostering innovation while maintaining investor protections. Despite these advances, unresolved issues like stablecoin yield restrictions, enforcement risks, and regulatory overlaps persist, highlighting the need for comprehensive legislation to solidify this evolving landscape.