PiCK
US SEC and CFTC release joint guidance on applying securities laws to digital assets
Summary
- It was reported that the US SEC and CFTC released joint guidance explaining the standards for applying securities laws to digital assets.
- The guidance was said to include interpretations under the legal framework for key activities such as a token classification framework, staking, mining, airdrops and wrapping.
- SEC Chair Paul Atkins said the guidance reflects that most digital assets themselves are not securities, but noted it has no legal binding force.
Forecast Trend Report by Period
The US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have released joint guidance explaining the standards for applying securities laws to digital assets (cryptocurrencies).
According to Eleanor Terrett, host of Crypto in America, on the 17th (local time), the guidance is intended to clarify how federal securities laws apply to specific digital assets and transactions.
The guidance includes how key activities—such as a token classification framework, staking, mining, airdrops and wrapping—are interpreted under the current legal framework.
In this regard, SEC Chair Paul Atkins said, "This guidance reflects that most digital assets themselves do not constitute securities."
However, the guidance is not legally binding and is intended to indicate how regulators may interpret and apply existing laws. It was also reported to be separate from the ongoing rulemaking related to digital asset issuance.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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