The U.S. Securities and Exchange Commission has outlined a 2026 regulatory agenda centered on three policy tracks: building a clearer framework for crypto markets, reshaping public company disclosure requirements to support initial public offerings, and expanding retail investor access to private markets with safeguards. The agenda is framed around the agency’s core statutory mission of investor protection, capital formation and fair, orderly and efficient markets. On crypto, the agenda points to rulemaking intended to bring more products onshore, create clearer rules for capital raising using crypto assets, and clarify how market participants can custody and facilitate trading of tokenized securities onchain, while continuing enforcement against legal violations. For public markets, the SEC plans proposals to transform the disclosure regime, with reforms guided by materiality and aimed at reducing compliance burdens while maintaining investor protections. For private markets, the agenda includes a proposal to better facilitate retail investor participation while preserving protections through appropriate safeguards.