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SEC Pivots On Crypto, Declaring Most Assets Are Not Securities
The SEC has formally classified the majority of cryptocurrency assets as digital commodities. The designation was unveiled on Tuesday as part of a new, comprehensive crypto asset taxonomy under 'Project Crypto', an initiative led by SEC Chair Paul Atkins to move the agency toward structural clarity.
The new framework categorizes digital assets into four distinct groups: digital commodities, digital collectibles, digital tools, and tokenized securities.
Under this interpretation, the SEC concluded that Bitcoin (CRYPTO: $BTC), alongside Ethereum (CRYPTO: $ETH), Solana (CRYPTO: $SOL), XRP, Cardano (CRYPTO: $ADA), and Avalanche (CRYPTO: $AVAX), among others, derive value...