The US Securities and Exchange Commission (SEC) has issued guidance on the classification of Non-Fungible Tokens (NFTs), stating that they are generally considered digital collectibles rather than securities.
According to the SEC's updated framework, crypto assets are divided into several categories, with only one group defined as securities. NFTs fall under the category of digital collectibles, which also includes items tied to creative works, gaming assets, and internet culture.
The classification of an NFT depends on its structure, particularly whether profit expectations rely on others' efforts. If marketed without promises of profit tied to managerial efforts, NFTs are generally treated as non-securities under the new framework.