SEC Advances Crypto Securities Plan to White House for Approval

The Securities and Exchange Commission (SEC) has submitted an interpretive guidance on the application of federal securities laws to crypto assets to the White House. This move marks a significant step towards regulating the growing prediction markets.

The proposal, which includes plans for the regulation of prediction markets, does not require a vote by the SEC and is seen as more likely to be enforceable than staff-level statements.

Under the new plan, token taxonomy could lead to the development of formal categories of different types of crypto assets, determining whether a particular token falls under the jurisdiction of the SEC or the Commodity Futures Trading Commission (CFTC).