SEC will Consider most Crypto Assets not Securities under Federal Law

Following a memorandum of understanding with the CFTC, the US Securities and Exchange Commission (SEC) issued a notice interpreting how "non-security crypto assets" fall under federal securities laws. This interpretation aims to provide a coherent taxonomy for digital assets like commodities, collectibles, and stablecoins, and clarify rules regarding airdrops, staking, and wrapping. SEC Chair Paul Atkins stated that this acknowledges that most crypto assets are not securities, with only tokenized traditional securities remaining subject to securities laws under this view. The move comes as Congress negotiates digital asset market structure legislation, which is expected to grant the CFTC more oversight authority. Separately, the SEC's enforcement division director, Margaret Ryan, resigned, drawing criticism from former official John Reed Stark, who accused the agency of abandoning its law enforcement identity.

(Source：Cointelegraph)