🇺🇸 LATEST: CFTC Chair says DeFi and prediction markets can restore trust and signals push for clearer U.S. crypto rules.
This is Massive news for Crypto market.
🇺🇸 SEC and CFTC have issued a joint guidance confirming that "most crypto assets" are not securities.
The Commission classified crypto assets into categories based on their characteristics, uses, and functions, and analyzed each category under the definition of "security" under the federal securities laws.
Digital Commodities - NOT Securities - Crypto assets that are intrinsically linked to and derive their value from the programmatic operation of a crypto system that is "functional," as well as supply and demand dynamics, rather than from the expectation of profits from the essential managerial efforts of others.
Digital Collectibles - NOT Securities - Crypto assets that are designed to be collected and/or used and may represent or convey rights to artwork, music, videos, trading cards, in-game items, or digital representations or references to internet memes, characters, current events, or trends, among other things.
Digital Tools - NOT Securities - Crypto assets that perform a practical function, such as a membership, ticket, credential, title instrument, or identity badge.
Stablecoins – GENIUS Act Stablecoins NOT Securities - Defined in the GENIUS Act as "payment stablecoin issued by a permitted payment stablecoin issuer."
Digital Securities (or "tokenized securities") - Securities - Financial instruments enumerated in the definition of "security" that is formatted as or represented by a crypto asset, where the record of ownership is maintained in whole or in part on or through one or more crypto networks.
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