US financial regulator issues long-awaited cryptocurrency guidance
SEC now classifies crypto into five categories, with securities laws only applicable to one: digital securities
The US Securities and Exchange Commission (SEC) on Tuesday issued an interpretation clarifying which types of cryptocurrencies are considered securities and how a “non-security” digital asset could meet certain conditions to become an investment contract.
The SEC’s new interpretation – which the US Commodity Futures Trading Commission also joined – classifies crypto tokens into five categories: digital commodities, digital collectibles, digital tools, stablecoins and digital securities, with the agency specifying that federal securities laws only apply to digital securities.
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