"The Securities and Exchange Commission (SEC) issued new guidelines for the cryptocurrency industry to answer the longstanding question of what does or does not qualify as a security, a classification that entails strict oversight."
"Published jointly with the Commodity Futures Trading Commission (CFTC), the guidelines classify most of crypto-based assets as commodities, collectibles, payment tokens or digital tools, exempting them from the SEC's more stringent oversight and disclosure requirements."
"Interviews with legal experts, lobbyists and crypto entrepreneurs suggest that these new rules may meaningfully lessen much of the crypto sector's existing regulatory and disclosure requirements, and may spur additional institutional financial interest in crypto-based activities."
"This latest interpretation is in line with other actions taken by the Trump administration to facilitate the continued expansion of profit-making but socially valueless crypto issuance and trading activity free from most federal regulation."
Major US financial regulators have introduced new rules for the cryptocurrency industry, classifying most crypto assets as commodities, which reduces regulatory oversight. The SEC's guidelines, termed a token taxonomy, exempt many crypto assets from stringent SEC requirements. Only blockchain representations of existing securities remain classified as securities. Legal experts suggest these changes may lessen existing regulatory burdens and attract institutional interest in crypto, potentially benefiting Trump family ventures. This shift aligns with previous actions by the Trump administration to promote crypto activities with minimal federal regulation.
Read at www.theguardian.com
Unable to calculate read time
Collection
[
|
...
]