The SEC and CTFC issued a joint statement regarding the classification of digital assets in the US, with the guidance suggesting most cryptocurrencies and related activities are not securities. Under Gary Gensler, the SEC targeted several digital asset companies (such as Ripple and Coinbase) for offering unregistered securities to investors. However, the new-look US regulators revealed that Bitcoin, Ethereum, NFTs as well as mining and staking processes are typically not considered securities under this framework.
All up, the document categorised crypto into five classifications: digital commodities, digital collectibles, digital tools, stablecoins. The motion is now under review in the White House. If actioned, it could provide a layer of regulatory clarity to those operating in the crypto industry.
For the full report see https://mail.google.com/mail/u/1/#inbox/FMfcgzQgKvMhMlrsWktwcwSzDCNXQSNv
