The U.S. Securities and Exchange Commission (SEC), with support from the Commodity Futures Trading Commission (CFTC), has released a clarification stating that most crypto assets are not considered securities. This document introduces five categories of tokens: digital goods, digital collectibles, digital instruments, stablecoins, and digital securities.
This new stance from the regulator directly contradicts the approach of former SEC Chairman Gary Gensler. The clarification also specifies that for crypto assets not classified as securities, the status of an investment contract can both arise and cease. This document serves as an interim measure until Congress passes a bipartisan market structure bill.