The Daily: SEC and CFTC declare most crypto assets aren’t securities, Tempo mainnet goes live with MPP for agents, and more
The SEC and CFTC issued new guidance classifying most crypto assets as non-securities, while Tempo launched its mainnet with an agent payment protocol.Summary
The U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) jointly released new guidance stating that the majority of cryptocurrencies are not securities, marking a significant regulatory shift away from the previous enforcement-heavy stance. This new framework introduces a token taxonomy classifying stablecoins, digital commodities, and "digital tools" as non-securities, though tokens marketed with profit expectations tied to managerial efforts could still fall under the Howey Test. In other major developments, Tempo, a payments-focused blockchain, launched its Layer 1 mainnet alongside the Machine Payments Protocol (MPP) to enable autonomous machine-to-machine transactions, integrating over 100 services. Additionally, Bhutan transferred another $72.3 million in Bitcoin, and U.S. spot Bitcoin ETFs extended their inflow streak to seven days, suggesting renewed institutional conviction.
(Source：The Block)