The SEC is moving to allow newly listed companies to raise capital immediately, marking its most significant rule overhaul in decades.

The U.S. Securities and Exchange Commission (SEC) has unveiled its most extensive revision of public listing rules in over two decades, aiming to lower compliance burdens and streamline capital access for companies going public — including firms in the crypto sector.

The proposed package would significantly reshape initial public offering (IPO) and ongoing public-company requirements, making it easier for businesses to list in the U.S. and raise additional funds after entering public markets. According to the SEC, the reforms are designed to counter a long-running decline in the number of publicly traded companies by reducing regulatory costs and simplifying fundraising processes.

In recent months, crypto-related firms such as BitGo (BTGO), Circle (CRCL), and Bullish (BLSH) have completed public debuts, while others including Securitize and Kraken have considered or openly discussed IPO plans. The SEC’s new framework could reduce both the cost and complexity of such listings, particularly for mid-sized crypto companies that often face heavy compliance expenses when transitioning into public markets.

A key feature of the proposal is allowing newly listed companies to immediately use “shelf registrations” after an IPO. This mechanism enables firms to pre-register securities and quickly issue shares when market conditions become favorable. Under current rules, companies are typically required to wait about a year before accessing this flexibility. The SEC also plans to remove the $75 million public float requirement tied to unrestricted shelf offerings.

For crypto firms operating in fast-moving and highly volatile markets, this added flexibility could prove especially impactful. A company like Securitize, which focuses on tokenized securities infrastructure and is often viewed as a potential IPO candidate, could potentially raise additional capital shortly after listing if investor demand strengthens.

The proposal also expands eligibility for regulatory accommodations currently reserved for larger public companies. At present, only about 36% of listed firms qualify, but the SEC estimates the changes would extend these benefits to roughly 75% of public companies. These advantages include simplified registration procedures, more flexibility in communications during offerings, and broader research coverage from broker-dealers.

Another notable adjustment would raise the threshold for “large accelerated filer” status from $700 million to $2 billion in public float. Companies below this level would avoid some of the most demanding reporting and audit requirements for a longer period after going public. The SEC also proposes extending the timeline before stricter reporting rules apply, requiring firms to exceed the threshold for two consecutive years before being upgraded into higher compliance categories.

Officials say the current system can force companies into costly regulatory obligations due to short-term fluctuations in market valuation. The revised approach is intended to provide more stability and predictability in determining filing status.

While the proposal is not specifically targeted at crypto companies, it reflects a broader policy shift toward encouraging capital formation and making public markets more accessible after years of heightened enforcement-focused oversight of the industry.

The rule changes will now enter a 60-day public comment period before the SEC considers final adoption.

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