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The SEC has issued an interpretation that clarifies the application of federal securities laws to digital assets using definitions in the GENIUS Act.
The document clarifies bitcoin and other digital assets as a commodity. Going forward, only securities that have been tokenized will fall under the SEC's authority, says SEC Chair Paul Atkins.
The interpretation ends a long dispute over the SEC's jurisdiction over digital assets which potentially could have led to the classification of digital asset developers as securities brokers with grave implications for user privacy.
The interpretation appears to additionally advance clarity on proposals in market structure drafts, which insufficiently defined what digital assets could be subject to broker/dealer registration requirements.
The interpretation is a major win for privacy, as broker/dealers are required to implement KYC/AML programs by law.
Find the full interpretation here:
https://www.sec.gov/files/rules/interp/2026/33-11412.pdf
The SEC has issued an interpretation that clarifies the application of federal securities laws to digital assets using definitions in the GENIUS Act.
The document clarifies bitcoin and other digital assets as a commodity. Going forward, only securities that have been tokenized will fall under the SEC's authority, says SEC Chair Paul Atkins.
The interpretation ends a long dispute over the SEC's jurisdiction over digital assets which potentially could have led to the classification of digital asset developers as securities brokers with grave implications for user privacy.
The interpretation appears to additionally advance clarity on proposals in market structure drafts, which insufficiently defined what digital assets could be subject to broker/dealer registration requirements.
The interpretation is a major win for privacy, as broker/dealers are required to implement KYC/AML programs by law.
Find the full interpretation here:
https://www.sec.gov/files/rules/interp/2026/33-11412.pdf
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