U.S. SEC issues an interpretation clarifying how federal securities laws apply to crypto assets, providing a clear framework that categorises digital assets as commodities, collectibles, tools and stablecoins

The guidance categorises crypto assets into types such as digital commodities, stablecoins, digital collectibles and digital tools, stating that most do not fall within securities laws, while reaffirming that assets offered as investment contracts or representing traditional securities remain subject to SEC oversight. It also emphasises that classification depends on how assets are marketed and used, noting that even non-security tokens can become securities if promoted with an expectation of profit, and signals potential future rulemaking including a “safe harbour” framework to support compliant…