SEC Chair: Key Initiatives in the Coming Months to Include Investment Contract Analysis, Tokenized Securities Trading Innovation Exemption

**February 19 —** The U.S. Securities and Exchange Commission (SEC) today published Chairman Paul Atkins’ remarks from the ETHDenver conference, outlining key regulatory priorities for the coming weeks and months: 1. Developing a framework to clarify the SEC’s approach to crypto assets tied to investment contracts, including how such contracts are formed and terminated; 2. Offering a special innovation exemption to enable limited trading of certain tokenized securities on new platforms, as part of building a long-term regulatory framework; 3. Releasing a rulemaking proposal to create a clear, reasonable pathway for fundraising through crypto asset sales; 4. Clarifying which wallets are exempt from registration under the Securities Exchange Act (without relying on no-action letters or case-by-case exemptions) to provide greater clarity; 5. Proposing rules for broker-dealers regarding custody of non-security crypto assets (including payment stablecoins); 6. Developing rules to modernize transfer agent requirements, adapting to blockchain’s potential in recordkeeping; 7. Providing additional guidance (without issuing no-action letters) to help the crypto community understand how existing rules apply to unique scenarios.