Overview
- The SEC on March 3 sent a Commission-level interpretive release to the White House’s OIRA explaining how federal securities laws would apply to certain crypto assets.
- Reporting indicates the plan may create a token taxonomy to define which assets fall under securities oversight and to guide registration and disclosure obligations.
- The measure now undergoes interagency review at OIRA before the Commission takes final action, with the effort proceeding under current statutes rather than new legislation.
- Separately, the CFTC filed an advance notice of proposed rulemaking on prediction and event-contract markets for OIRA review and signaled near-term guidance and clear self-certification standards, with domestic perpetual-futures guidance also planned.
- Senator Cynthia Lummis and CFTC Chair Michael Selig pledged to press the stalled CLARITY Act that would codify a CFTC–SEC split, as both agencies coordinate through Project Crypto to limit overlapping rules and keep markets onshore.