MR. DON

🚨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.

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