SEC Chair Paul Atkins Proposes Crypto Safe Harbor and New Token Classifications on March 18, 2026

On March 18, 2026, SEC Chair Paul Atkins outlined a crypto "safe harbor" framework that would let token projects develop without immediate securities registration. The proposal carves out digital commodities, collectibles, tools, and payment stablecoins from securities rules and introduces a grace period for other assets to work toward decentralization. It also contemplates easier registration for security tokens and new custody rules for broker-dealers, changes that could significantly affect U.S. issuers, exchanges, and token valuations.