The SEC chairman outlined efforts to expand public markets, develop digital asset rules and return corporate governance authority to states. The chairman said SEC proposals would allow semi-annual reporting, reform registered offerings and filer status, and rescind the previous administration's climate rule. The chairman said more than 580 companies went public from the beginning of 2025 through the first half of 2026, raising $208 billion. The chairman said proposed crypto rules would create tailored capital-raising pathways, while an Innovation Exemption permits certain onchain transactions in tokenized securities. The chairman argued that rescinding Rule 14a-8 would let states determine shareholder proposal frameworks.