SEC and CFTC Issue 68-Page Guidance Stating Most Crypto Assets Generally Are Not Securities

The U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission jointly issued 68-page regulatory guidance on Tuesday stating that most digital assets, including stablecoins, digital commodities, and "digital tools," are generally not treated as securities, Odaily Planet Daily reports. The document sets out a classification framework for crypto assets and explains how federal securities laws apply to activities such as mining, protocol staking, and airdrops. SEC Chairman Paul Atkins said at the Washington DC Blockchain Summit that this interpretive guidance is intended to help market participants better understand the application of securities laws to crypto assets. This position marks a departure from the stance under the Biden administration, when former SEC Chair Gary Gensler repeatedly asserted that most crypto assets are securities and pursued enforcement actions against many crypto companies.