According to ChainCatcher, CoinDesk reported that the Nasdaq exchange sent a letter to the SEC's crypto working group, suggesting that regulators carefully categorize digital assets and clarify the "referee" of regulation.
The document, signed by regulatory affairs head John Zecca, proposed four categories:
First, financial securities tokens (such as tokens linked to stocks, bonds, ETFs, which should be treated equally with underlying assets), regulated by the SEC;
Second, digital asset investment contracts (tokenized contracts that meet the revised Howey Test), subject to securities rules;
Third, digital asset commodities (meeting the US commodity definition), under CFTC jurisdiction;
Fourth, other digital assets (not falling into the first three categories, not mandatorily subject to securities or commodity rules).
The SEC and CFTC will collaborate to clarify regulatory boundaries, with the new cryptocurrency law potentially serving as a guideline. Nasdaq also suggested developing cross-trading qualifications for multi-type asset handling platforms and emphasized its credibility in the digital asset field, calling for strengthened safety constraints on companies comprehensively handling investor activities to align with industry practices.
