Are Crypto "assets" securities or not? SEC cracks the seal on new definitions - sort of.
The SEC has published "interpretive guidance" which is not a formal new rule classifying crypto assets.
The SEC indicates that a digital asset becomes a security when its issuer offers it as an investment in a common enterprise that comes with promises of profits based on the management's efforts.
Such an investment contract ends, though, when "either the issuer has fulfilled its representations or promises or the issuer has failed to satisfy its representations or promises," at which point the investment would not regulated as a security anymore.
The SEC indicates it is not dealing with related stuff like airdrops, protocol staking and protocol mining.
SEC indicates it is planning to launch a formal rule making process "in a week or two". https://www.coindesk.com/policy/2026/03/17/u-s-sec-issues-first-ever-definitions-for-what-crypto-assets-are-securities
DL the "Interpretative Guidance" here: https://www.sec.gov/files/rules/interp/2026/33-11412.pdf #SEC #Crypto #CryptoAssets #Securities #CryptoMArkets #CryptoTrading #DigitalAssets





