New US playbook for crypto assets
This week, the U.S SEC and the CFTC jointly issued new guidance clarifying how federal laws apply to crypto. The duo outlined the conditions under which a token transitions from being a security to a commodity.
SEC Chairman Paul S. Atkins said that the new guide “acknowledges what the former administration refused to recognize – that most crypto assets are not themselves securities.”
TODAY 🚨: The Commission issued an interpretation that clarifies the application of federal securities laws to crypto assets.
— U.S. Securities and Exchange Commission (@SECGov) March 17, 2026
This is a major step to provide greater clarity regarding the Commission’s treatment of crypto assets.
Read the release here: https://t.co/DDykVLHZQI pic.twitter.com/zbLFS2JH6g
What does it mean for brokers? The framework sets clearer boundaries for participation in crypto while redefining their approach to risk oversight and compliance in this evolving market. The risk is now in the day-to-day operations, where the status of a crypto asset can change depending on how it is marketed.
Our interpretation on crypto assets—grounded in existing law and informed by extensive public input—acknowledges what the former administration refused to recognize...
— Paul Atkins (@SECPaulSAtkins) March 17, 2026
Most crypto assets are not themselves securities.pic.twitter.com/fbHan0vmmb
It also marks a major milestone in crypto regulation, introducing a five-category classification system that replaces the previous regulatory uncertainty. However, by shifting from a disclosure-focused model to one centered on market conduct, the framework also raises concerns about potential gaps in investor protection and the balance between innovation and oversight.
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Banks apply insider trading rules to prediction markets
Policies are also shifting in the fast‑moving prediction markets space. Big banks are starting to look at how their existing compliance rules apply to prediction markets. This is one of the first clear signs that event‑based trading is moving into formal corporate policy rather than sitting on the sidelines.
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JPMorgan Chase is among the first to review its internal rules on staff trading these contracts and may issue explicit guidance for its 320,000 employees on using platforms like Kalshi and Polymarket.
Crypto exchanges push into TradeFi
Meanwhile, in crypto land, diversification is quickly becoming the new house rule. Crypto platforms are increasingly moving into trading products that used to belong firmly to traditional finance.
