The guidance document on cryptocurrency assets jointly issued by the U.S. SEC and CFTC is expected to officially take effect next week

The guidance document on crypto assets jointly released by the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) has been submitted to the Federal Register and is expected to take effect immediately after its official release next Monday, providing market participants with directly actionable regulatory guidance. This document carries the authority of the commission level and will replace the "Framework for 'Investment Contract' Analysis of Digital Assets" released in 2019, guiding the enforcement and regulatory work of the two agencies.

This guidance document on crypto assets is built on the Project Crypto initiative launched in 2025 and is seen as a "regulatory bridge for crypto assets." It also provides immediate compliance clarity for entrepreneurs and investors before bipartisan market structure legislation advances in Congress. Its interpretative power and practical impact will guide the behavior of the crypto industry, judicial analysis, and enforcement policies, providing the market with a more stable compliance basis than previous employee-level guidance.