SEC Issues Long-Awaited Crypto Guidance, Says Most Tokens Not Securities

The seal of the Securities and Exchange Commission is seen at its headquarters in Washington in this file photo. Andrew Kelly/ReutersU.S. financial regulators have issued an interpretation clarifying how federal securities laws apply to crypto assets, setting up a significant shift in policy and providing long-sought guidance to the digital asset industry.The move, announced jointly by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission on March 17, introduces a formal framework for classifying different crypto tokens and lays out how they should be treated under existing laws.