SEC and CFTC Take Steps Towards Regulating Crypto Assets

The US Securities and Exchange Commission (SEC) has taken steps towards providing regulatory clarity for the crypto sector by issuing interpretive guidance on how to apply federal securities law to certain crypto assets. This guidance, which is currently under White House review, establishes a 'token taxonomy' to help categorize these assets.

According to an SEC spokesperson, the Commission will consider additional interpretive guidance around a token taxonomy for crypto assets in line with market structure legislation. This move aims to ensure that investors and innovators have a clear understanding of their regulatory obligations.

The CFTC has also pledged to unveil clear rules for prediction markets, submitting a proposal for rulemaking for the multi-billion-dollar prediction markets. The CFTC Chairman has promised to reveal crypto perps guidelines by next month.