SEC seeks candidates for Small Business Capital Formation Advisory Committee, a forum that can shape capital-raising policy debates relevant to crypto

The Securities and Exchange Commission (SEC) has opened a call for candidates to fill vacancies on its Small Business Capital Formation Advisory Committee, according to an SEC press release. The announcement invites interested individuals to apply to serve on the committee, which provides advice and recommendations to the SEC on rules, regulations, and policy matters affecting small businesses and their ability to raise capital.

Although the SEC’s announcement does not single out crypto assets, committee work focused on capital formation can be relevant to crypto-adjacent fundraising—particularly where activities touch securities law, such as tokenized securities or other offerings that may be structured as securities offerings. The committee’s membership and perspectives can influence what issues are prioritized for discussion and what recommendations are delivered to the Commission.

Key details

• What the SEC announced: The SEC is seeking candidates to fill vacancies on the Small Business Capital Formation Advisory Committee, according to the SEC press release.
• What the committee does: The committee advises the SEC by providing recommendations on SEC rules, regulations, and policy matters that affect small business capital formation, as described by the SEC.
• Who can apply: The SEC press release indicates the agency is soliciting candidates; the announcement itself does not list specific eligibility categories or quotas in the press release text.
• How this could intersect with crypto: The SEC announcement does not mention crypto, but capital-raising policy discussions can overlap with securities-based fundraising models that some crypto projects and tokenization initiatives may use.
• What is not specified: The SEC press release does not specify whether the committee will take up crypto-related capital formation topics, nor does it detail any near-term policy agenda tied to the vacancies.

Background

The SEC uses advisory committees to gather external input on specific areas of the securities markets and regulatory policy. According to the SEC press release, the Small Business Capital Formation Advisory Committee is one such body focused on issues affecting smaller companies and their access to capital.

In practice, capital formation discussions often involve how regulatory frameworks impact fundraising pathways, disclosure expectations, and investor protections. While the SEC’s announcement is procedural—focused on staffing vacancies—the composition of advisory committees can affect the kinds of market experiences and viewpoints reflected in formal recommendations.

The SEC press release does not describe any particular policy proposals under consideration as part of this call for candidates. It also does not indicate whether the committee will address digital asset or tokenization topics.

Industry impact

For crypto businesses and tokenization initiatives that may engage with securities laws, advisory committee activity can matter indirectly. If the committee’s future discussions include modern fundraising mechanisms, its recommendations could inform how the SEC evaluates the effectiveness of existing capital-raising frameworks for smaller issuers and emerging market structures.

That said, the SEC press release does not commit the agency to any rulemaking, interpretive guidance, or enforcement posture changes. Advisory committee recommendations are not binding, and the announcement does not state what topics the committee will prioritize once vacancies are filled.

For market participants, the announcement primarily signals an opportunity for industry, investor, academic, and other stakeholders (depending on who applies and is selected) to contribute perspectives on small business capital formation issues that can be adjacent to crypto when fundraising involves securities offerings.

What's next

• Watch for SEC updates on the application process and any deadlines or selection timelines, as reflected in future SEC communications.
• Monitor committee membership announcements, which may provide clues about the expertise and perspectives represented in upcoming deliberations.
• Track committee meeting agendas and minutes once published by the SEC, to see whether capital formation topics intersecting with digital assets are discussed.
• Look for any formal recommendations the committee submits to the SEC after new members are appointed.

Legal Disclaimer

This article is for informational purposes only and does not constitute legal, tax, or financial advice. Regulatory requirements vary by jurisdiction and individual circumstances. Readers should consult qualified legal and tax professionals for guidance specific to their situation.

Sources

• https://www.sec.gov/newsroom/press-releases/2026-9-sec-seeks-candidates-small-business-capital-formation-advisory-committee