US SEC Releases Comprehensive Token Taxonomy for Crypto Assets

The US Securities and Exchange Commission (SEC) has released a 68-page guidance in collaboration with the Commodity Futures Trading Commission (CFTC), clarifying how it plans to apply federal securities laws to crypto assets.

The SEC has grouped crypto assets into five categories: digital commodities, digital collectibles, digital tools, stablecoins, and digital securities. The agency stated that digital commodities are necessary for participating in or using a functional crypto system, with top coins such as BTC, ETH, XRP, and DOGE classified under this category.

The commission has defined digital collectibles as crypto assets that represent or convey rights to artwork, music, videos, trading cards, or in-game items. The SEC noted that these collectibles could be digital representations of internet memes, characters, current events, or trends.