The U.S. Securities and Exchange Commission (SEC) has submitted a major regulatory proposal to the White House, potentially altering how federal securities laws apply to cryptocurrencies. This interpretative guidance, focusing on "token taxonomy," aims to clarify which digital assets fall under the SEC's jurisdiction as securities.
Unlike standard rulemaking, this proposed interpretation is expected to carry substantial weight, exceeding that of previous staff-level statements. SEC leadership had previously indicated a desire to clarify the integration of tokenized securities within existing legal frameworks.
The proposal is currently under White House review. Concurrently, the U.S. Senate is considering legislation that could significantly shape the oversight roles of the SEC and the Commodity Futures Trading Commission (CFTC) over digital assets. The CFTC has also submitted its own guidance on prediction markets.