The SEC clarifies the regulation of crypto assets in the United States
The SEC has published an official joint interpretation with the CFTC, marking a turning point in the regulation of digital assets in the United States. This 68-page document clarifies the nature of crypto assets, now distinguishing five categories, of which only traditional tokenized securities remain under the jurisdiction of the SEC. Digital commodities, digital tools, NFTs, and stablecoins fall outside its direct control.
This new classification, termed a "transitional framework," aims to reduce legal risk for companies in the sector and to encourage innovation. The federal agency emphasizes the flexibility of the rules while awaiting the vote on the CLARITY Act by Congress, which is expected to confer greater authority to the CFTC. The SEC also plans to establish a "Token Safe Harbor" for startups. This transfer of powers to the legislative body and the CFTC marks a phase of institutionalization of the crypto market, offering unprecedented regulatory visibility and reducing the risks of legal actions.
