The U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have just released a landmark document formally classifying crypto assets. The document divides crypto assets into five categories and clearly defines their attributes: 1. Digital Goods: Decentralized utility crypto assets such as BTC, ETH, SOL, XRP, ADA, and DOGE are not considered securities. 2. Digital Collectibles: Including NFTs, meme coins, art tokens, and game items, these are not considered securities. 3. Digital Instruments: Such as membership tokens, certificates, and domain names (ENS), these are not considered securities. 4. Stablecoins: Payment stablecoins that comply with the GENIUS Act are not considered securities; others are classified on a case-by-case basis. 5. Digital Securities: Tokenized products of traditional securities are always considered securities. The rules also explicitly state that staking, mining, airdrops, and Wrapped BTC are not considered securities transactions. This is a crucial step towards legalization for the crypto industry, completely eliminating the regulatory gray area.
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RYAN SΞAN ADAMS - rsa.eth
@RyanSAdams
03-18
THEY DID IT.
The SEC and CFTC just dropped a landmark document that officially classifies crypto assets.
They're actually telling us which crypto assets are securities and which ones aren't - by name!
THIS IS SOMETHING GENSLER REFUSED TO DO
(he focused on prosecuting crypto
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