Catenaa, Sunday, March 22, 2026- The US Securities and Exchange Commission on Tuesday issued its first formal interpretation outlining how different crypto assets will be classified under federal law, marking a shift toward clearer oversight of the digital asset market.
The guidance, released in coordination with the Commodity Futures Trading Commission, sets out categories for crypto tokens and clarifies that most are not considered securities. The move follows years of regulatory uncertainty in the United States and comes as policymakers push to define jurisdiction between financial regulators.
SEC Chair Paul Atkins said the framework is intended to clarify how existing securities laws apply to digital assets, while signaling a narrower scope for the agency’s authority compared with prior approaches.
The SEC outlined multiple categories, including digital commodities, stablecoins, digital collectibles and digital tools. Only a subset, described as digital securities, would fall under securities regulation.
Officials said a crypto asset becomes a security when it is sold as part of an investment contract tied to expectations of profit based on the efforts of others. That classification may change over time if those conditions no longer apply.
The interpretation also states that activities such as airdrops, staking and protocol mining generally fall outside securities oversight.
The guidance marks a departure from the approach taken under former SEC Chair Gary Gensler, whose tenure was defined by enforcement actions rather than tailored rulemaking for crypto markets.
Atkins, appointed under President Donald Trump, has pushed for clearer rules aimed at supporting digital asset development while maintaining investor protections.
The CFTC said it supports the same classification framework, reflecting closer coordination between the agencies. Regulators have moved to align oversight responsibilities as crypto markets expand across trading, payments and decentralized finance.
Officials described the effort as part of a broader push to harmonize rules and reduce overlap between agencies.
Market participants have long called for clearer definitions to guide compliance and investment decisions. Analysts said the new framework could encourage innovation by reducing legal ambiguity, though it does not yet carry the force of formal regulation.
The SEC said it plans to begin a rulemaking process in the coming weeks, which is expected to include additional proposals and potential exemptions for crypto firms.
Lawmakers in Congress are working on broader crypto legislation that could formalize regulatory boundaries and give permanence to policy changes. Regulators said statutory action will be needed to fully establish long-term rules.
The guidance is expected to influence ongoing debates over market structure and oversight of digital assets in the United States.
