SEC proposes ‘token taxonomy’ for interpreting crypto under securities laws
The proposed interpretative application of federal securities laws on digital assets by the SEC reportedly carries more weight than staff-level statements.
Officials at the US Securities and Exchange Commission (SEC) submitted a regulatory proposal to the White House with the potential to change how the government handles enforcement of federal securities laws over cryptocurrencies.
In a Tuesday submission to the White House’s Office of Information and Regulatory Affairs, the SEC sent a “commission interpretation on application of the federal securities laws to certain types of crypto assets and certain transactions involving crypto assets.”
The move reportedly marked interpretative guidance around “token taxonomy” for cryptocurrencies, determining which tokens may be considered securities under the SEC’s purview.