The SEC issued an interpretation on Tuesday clarifying how federal securities laws apply to certain crypto assets and transactions involving cryptocurrencies.
This is a “major step in the Commission’s efforts to provide greater clarity regarding the treatment of crypto assets,” it stated. The guidance also “complements Congressional endeavors to codify a comprehensive market structure framework into statute.”
The Commodity Futures Trading Commission (CFTC) also joined the interpretation, confirming that it will apply the Commodity Exchange Act to crypto assets.
SEC: Cryptos Are Not Securities
The interpretation establishes a token taxonomy covering five categories: digital commodities, digital collectibles, digital tools, stablecoins, and digital securities.
The key takeaway is that most crypto assets are not classified as securities, which is the opposite of the previous Administration’s stance on them. SEC Chairman Paul Atkins stated:
“It also acknowledges what the for
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