[Regulatory Issues] In this category, even the cryptocurrency enthusiasts are confused. What category do the assets you hold belong to?
The U.S. Securities and Exchange Commission (SEC) has released a regulatory framework for cryptocurrencies: five categories and criteria for determining securities attributes.
SEC Chairman Paul S. Atkins stated: "After more than a decade of uncertainty, this clarification will help market participants clearly understand how the Commission defines cryptocurrency assets under federal securities law. Regulators should do this: delineate clear boundaries using clear language. This document also acknowledges a fact that the previous administration refused to recognize — that most cryptocurrency assets are not securities per se. At the same time, it reflects the reality that investment contracts can be terminated. As Congress advances bipartisan market structure legislation, this effort builds an important bridge for entrepreneurs and investors. I look forward to working with Chairman Selig to implement the relevant rules soon."
The U.S. Securities and Exchange Commission (SEC) has released a regulatory framework for cryptocurrencies: five categories and criteria for determining securities attributes.
SEC Chairman Paul S. Atkins stated: "After more than a decade of uncertainty, this clarification will help market participants clearly understand how the Commission defines cryptocurrency assets under federal securities law. Regulators should do this: delineate clear boundaries using clear language. This document also acknowledges a fact that the previous administration refused to recognize — that most cryptocurrency assets are not securities per se. At the same time, it reflects the reality that investment contracts can be terminated. As Congress advances bipartisan market structure legislation, this effort builds an important bridge for entrepreneurs and investors. I look forward to working with Chairman Selig to implement the relevant rules soon."