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SEC Finally Clarifies That Most Crypto Assets Are Not Securities

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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 former administration refused to recognize – that most crypto assets are not themselves securities.”

“After more than a decade of uncertainty, this interpretation will provide market participants with a clear understanding of how the Commission treats crypto assets under federal securities laws,” he added.

“For far too long, American builders, innovators, and entrepreneurs have awaited clear guidance on the status of crypto assets under the federal securities and commodity laws,” said CFTC Chairman Michael Selig.

“With today’s interpretation, the wait is over. Chairman Atkins and I are committed to fostering a regulatory environment that allows the crypto industry to flourish in the United States with clear and rational rules of the road.”

It also provides guidance on common crypto activities that have long existed in a legal gray zone, including airdrops, mining, staking, and asset wrapping.

Both Atkins and Selig framed this as a “bridge for entrepreneurs and investors” while Congress works on broader bipartisan market structure legislation.

“This is the biggest move toward legitimacy I’ve seen in all my time in crypto. Maybe bigger than the genius act since it covers all crypto assets,” commented crypto investor Ryan Sean Adams.

No Crypto Market Reaction

It seems that positive regulatory developments fail to move markets these days, as spot markets actually retreated by 1% over the past 24 hours.

Bitcoin tapped $74,800 three times over the past 12 hours or so but failed to break through, falling back to $74,350 at the time of writing.

Ether prices were tightly rangebound over the past 24 hours, trading at $2,333 on Wednesday morning in Asia.

The altcoins were a mixed bag, with gains for Tron and Hyperliquid, and losses for XRP, Stellar, and Canton.

The post SEC Finally Clarifies That Most Crypto Assets Are Not Securities appeared first on CryptoPotato.

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