US Agencies Issue Guidance on Crypto Asset Regulations

The US digital asset industry has long been plagued by regulatory ambiguity. After more than a decade of uncertainty, federal agencies have finally provided clarity on how securities laws apply to crypto assets.

The SEC and CFTC issued joint-agency interpretive guidance on March 17, which outlines the rules for various activities in the digital asset space. The guidance was unanimously approved by SEC Commissioners Atkins, Peirce, and Uyeda alongside CFTC Chairman Selig.

The document establishes a coherent token taxonomy, categorizing digital assets into distinct classes, including digital commodities and digital collectibles. This clarification is significant for American builders and investors who have operated under the threat of enforcement actions regarding network participation.