The interpretative notice included information on token taxonomy and what digital assets the regulator would consider a security under federal law.
In one of its first actions since signing a memorandum of understanding with the Commodity Futures Trading Commission (CFTC), the US Securities and Exchange Commission (SEC) said it would clarify how “non-security crypto assets” are treated under federal securities laws.
In a Tuesday notice, the SEC said its interpretation of how crypto assets should be treated would serve as an “important bridge” as lawmakers in the US Congress consider market structure legislation that will codify how financial regulators oversee digital assets.
The commission said the interpretation would provide a “coherent token taxonomy for digital commodities, digital collectibles, digital tools, stablecoins, and digital securities,” address how a “non-security crypto asset” may or may not be considered an investment contract under the SEC’s purview, and clarify federal securities laws on “airdrops, protocol mining, protocol staking, and the wrapping of a non-security crypto asset.”
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