The U.S. SEC on September 4 published its Spring 2025 Regulatory Agenda, outlining potential rule proposals targeting the issuance, custody and trading of crypto assets to provide greater regulatory clarity and market certainty. The agenda, quoted by SEC Chair Paul S. Atkinsb, emphasizes a dual objective of clarifying legal frameworks while continuing enforcement against illicit activity. It also details proposed measures to reduce compliance burdens and enhance capital formation, including streamlined fundraising pathways and improved investor access to private companies. Additional items address amendments to modernize existing rules and alleviate disclosure burdens to align regulatory requirements with evolving market practices.