US SEC files document clarifying the application of securities laws to crypto asset transactions

The U.S. Securities and Exchange Commission (SEC) today submitted a regulatory interpretation document to the Office of Information and Regulatory Affairs (OIRA), clarifying how federal securities laws apply to certain crypto assets and related transactions. The document, issued by the Commission, indicates that it believes this interpretation will have a significant impact on the market. The document is independent from the SEC's yet-to-be-finalized proposal for crypto asset issuance rules. Once it passes OIRA review, three commissioners will vote on it. An SEC spokesperson stated that the Commission will review interpretive guidance on the classification of crypto asset tokens to ensure that investors and innovators have clear regulatory obligations.