The Securities and Exchange Commission and Commodity Futures Trading Commission (CFTC) have issued joint guidance confirming “most crypto assets” are not securities. This clarification follows earlier SEC guidance issued in January 2026 on tokenized securities frameworks, which was the first in an anticipated series of guidelines and proposed rulemakings on crypto asset regulation.

“After more than a decade of uncertainty, this interpretation will provide market participants with a clear understanding of how the Commission treats crypto assets under federal securities laws. This is what regulatory agencies are supposed to do: draw clear lines in clear terms,” said SEC Chairman Paul S. Atkins. “It also acknowledges what the former administration refused to recognize – that most crypto assets are not themselves securities. And it reflects the reality that investment contracts can come to an end. This effort serves as an important bridge for entrepreneurs and investors as Congress works to advance bipartisan market structure legislation, which I look forward to implementing with Chairman Selig in the near future.”

The SEC’s stance on crypto since going under new leadership last year continues to grow more pro-crypto. In the United States, the crypto industry has continued to face an issue in how it’s classified. The asset class has often been viewed as a security or a commodity. Yet, both sides have very different ramifications and have a massive impact on how they’re governed. The industry has seen increased issues with the US Securities and Exchange Commission (SEC) over the last several years. Especially since the current Presidential administration took office, the US is now becoming a central hub for crypto to thrive, with the securities tag being taken away.

“For far too long, American builders, innovators, and entrepreneurs have awaited clear guidance on the status of crypto assets under the federal securities and commodity laws,” said CFTC Chairman Michael S. Selig. “With today’s interpretation, the wait is over. Chairman Atkins and I are committed to fostering a regulatory environment that allows the crypto industry to flourish in the United States with clear and rational rules of the road. Today’s joint agency action reflects a shared commitment to developing workable, harmonized regulations for the new frontier of finance.”