The U.S. Securities and Exchange Commission (SEC) headquarters in Washington, DC, U.S., November 25, 2024. REUTERS/Benoit Tessier/File Photo

By Hannah Lang

-The U.S. Securities and Exchange Commission on Thursday unveiled its rulemaking agenda for the upcoming months, which could see broad proposals to revamp cryptocurrency regulations and reduce rules Wall Street has decried as being overly burdensome.

The SEC formally outlined several of its initiatives to overhaul cryptocurrency policies, which SEC Chair Paul Atkins had previewed in July. Those include proposing rules about the offer and sale of digital assets, which the SEC said could potentially include certain exemptions and safe harbors, and clarifying how its broker-dealer rules apply to crypto.

The SEC also said it would consider amending its rules to allow for crypto to be traded on national securities exchanges and alternative trading systems.

If enacted, those policies would represent a major win for the digital asset industry, which has long pushed for tailored rules that would enable crypto to become more enmeshed with traditional finance.

"This regulatory agenda reflects that it is a new day at the Securities and Exchange Commission," Atkins said in a statement. "The items on the agenda represent the commission's renewed focus on supporting innovation, capital formation, market efficiency and investor protection."

On the campaign trail last year, President Donald Trump courted crypto cash by pledging to be a "crypto president" and promote the adoption of digital assets.

That is in stark contrast to former Democratic President Joe Biden's regulators, who, in a bid to protect Americans from fraud and money laundering, cracked down on the industry. The Biden administration's SEC sued exchanges Coinbase, Binance, and dozens more, alleging they were flouting U.S. laws. Trump's SEC has since dropped those cases.

The SEC also plans to propose a plan for "rationalization" of disclosures. The agency's core work includes laying out disclosure requirements meant to increase transparency and reduce risk for investors.

The agency also flagged a plan to "to reduce compliance burdens" for public companies in connection with shareholder proposals.

(Reporting by Hannah Lang in New York; Additional reporting by Chris Prentice in New York; Editing by Mark Porter)