Crypto firms, Wall Street push SEC to revise Regulation Crypto Assets as comments close - The Block

The comment period on the SEC's proposed "Regulation Crypto Assets" has closed, with crypto firms and traditional Wall Street institutions both pressing the agency to revise the framework, according to The Block. The breadth of participants—spanning digital-asset natives and established financial firms—underscores how much of the industry now has a stake in how the rules are written.

The proposal's specifics matter because regulatory classification often determines which entities must register, how assets are custodied, and what disclosures accompany offerings. When both crypto-native companies and legacy institutions engage in the same rulemaking, it typically signals that the final text could shape market structure well beyond a single sector—affecting product design, compliance costs, and where activity is domiciled.

What to watch next: whether the SEC publishes the submitted comments, signals revisions in response to industry feedback, or moves toward a final rule. The pace and direction of that process will be a key indicator for how quickly regulated crypto products can develop in the U.S.—and whether firms choose to build domestically or look elsewhere.