The U.S. SEC and CFTC released new cryptocurrency guidelines, clarifying that most digital assets do not fall under the category of securities

According to The Block, the U.S. SEC and CFTC jointly released a 68-page new guideline, clarifying that most cryptocurrencies do not fall under the category of securities.

SEC Chairman Paul Atkins stated at the Washington Blockchain Summit that this move will provide market participants with clear guidance on how federal securities laws apply to crypto assets. The guidelines detail the classification of stablecoins, digital commodities, and "digital tools," all of which are identified as non-securities, and explain how "non-security crypto assets" can transform into securities, as well as how federal securities laws apply to mining, protocol staking, and airdrops. Digital commodities are defined as assets "inherently linked to the programmatic operation of functional crypto systems and the dynamics of supply and demand from which value is derived," and digital collectibles are also not considered securities. Atkins stated, "We are no longer the 'Securities and Everything Commission'," which sharply contrasts with the previous SEC Chairman Gary Gensler's stance of viewing most cryptocurrencies as securities. CFTC Chairman Michael Selig also attended the summit.