PTDesigns

Crypto markets—and the millions of Americans who participate in them—deserve long-overdue clarity. Under President @realDonaldTrump's leadership, we are well on our way. My latest in @CoinDesk with SEC Commissioners @HesterPeirce and Mark Uyeda ⬇️ ow.ly/5z2050YwxI5

🚨NEW: After a Senate Republican meeting on crypto market structure attended by White House Crypto Council Executive Director @patrickjwitt, @SenLummis told reporters negotiations around yield/rewards are making progress but remain “in a delicate state,” with the focus shifting from imminent legislative text to “who we need to be reaching out to.” “I think some major light bulbs were switched on during this meeting. So, there's a path forward that is not a path that I would have expected to encounter when I walked in the room,” said Lummis. Patrick Witt, who emerged from the meeting looking frustrated, had no comment on the meeting. @SenatorTimScott emerged, smiling as always, but declined to comment, noting he doesn’t speak to reporters in the hallways.

🚨JUST IN: The @SECGov and @CFTC have issued joint, Commission-level interpretive guidance outlining how federal securities laws apply to certain crypto assets and transactions. This follows a submission to OIRA earlier this month signaling the agencies’ intent, and was approved by all three SEC commissioners (Atkins, Peirce, Uyeda) as well as @ChairmanSelig. The guidance establishes a token taxonomy and addresses how activities like staking, mining, airdrops, and wrapping are treated under existing law. Notably, SEC Chair @SECPaulSAtkins says it reflects that most crypto assets are not themselves securities and that investment contracts can come to an end. While interpretive guidance doesn’t change the law, it reflects how regulators intend to apply it, giving the market a clearer directional signal. Separately, this is distinct from the SEC’s still-pending rulemaking on crypto asset offerings.