The US Securities and Exchange Commission (SEC) has issued an important interpretation that aims to provide clarity on the application of federal securities laws to various crypto assets and related transactions.
The document, which is dated for publication in 2026, categorizes crypto assets into five types based on their characteristics, uses, and functions. These categories include digital commodities, collectibles, tools, stablecoins, and securities.
The interpretation also addresses specific activities such as protocol mining, staking, wrapping, and airdrops, and provides guidance on when these activities may be subject to federal securities laws.