SEC and CFTC Release First Crypto Token Taxonomy, Most Assets Not Securities
Key Takeaways The SEC published interpretive guidance on March 17 classifying crypto into five distinct categories under federal securities law. Bitcoin, Ethereum, Solana, XRP, and other named digital commodities are not securities under the new framework. A formal rulemaking proposal of more than 400 pages, including an innovation exemption, is expected within two weeks. Mar. 18…