Blockworks formally submitted a comment letter to the SEC regarding Regulation Crypto Assets, the proposed framework announced on August 18, 2026, for token offerings in the United States. The firm proposes allowing disclosures to exist onchain and recommends approving third-party agents, called Qualified Onchain Disclosure Agents, to file required information on behalf of token projects. The SEC’s proposed Reg CA includes two exemptions for token offerings: one permitting fundraising of up to $5 million over four years, and another allowing up to $75 million within a 12-month period. Blockworks is also requesting mandatory disclosures covering market-maker agreements, liquidity arrangements, token loans, and payments to promoters. The proposal builds on Blockworks’ Token Transparency Framework, an open-source standard launched on June 18, 2025, which is supported by the Transparency Alliance including Coinbase and Kraken.
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