- The U.S. Securities and Exchange Commission submitted interpretive crypto guidance to the Office of Information and Regulatory Affairs for interagency review.
- The proposal explains how securities laws may apply to crypto transactions and token classifications without creating new federal rules.
- A vote by SEC commissioners will follow review, while the Commodity Futures Trading Commission advances separate rules on prediction markets.
U.S. regulators have taken a new step toward clarifying cryptocurrency oversight after the U.S. Securities and Exchange Commission submitted interpretive guidance to the Office of Information and Regulatory Affairs at the White House. The document explains how federal securities laws may apply to certain crypto assets and related transactions. According to journalist Eleanor Terrett, the guidance now awaits interagency review before commissioners vote on it.
SEC Seeks Clearer Crypto Token Classification
According to the SEC, the document outlines how existing securities laws could apply to specific cryptocurrency transactions. Importantly, the guidance does not change federal law. However, the commission itself issued the interpretation rather than staff members.
That distinction makes the proposal notable for the crypto market. Regulatory interpretations from the commission often carry greater weight than internal staff statements.
Meanwhile, the proposal remains separate from the SEC’s ongoing rulemaking process related to crypto asset offerings. The agency confirmed that both tracks continue independently.
Earlier, Paul Atkins announced the commission’s roadmap for crypto securities oversight. He stated regulators may issue guidance on a formal token taxonomy.
Such a taxonomy could categorize different types of digital assets. Notably, classification could determine whether tokens fall under SEC or Commodity Futures Trading Commission jurisdiction.
White House Review and Commission Vote
Before adoption, the proposal must complete review at OIRA. After that step, the SEC’s three commissioners will vote on the interpretation.
An SEC spokesperson confirmed the commission’s goal involves clarifying obligations for both investors and innovators. The agency also said the guidance aligns with broader market structure legislation under discussion.
Notably, independent agencies historically did not submit rules to the White House for review. However, the White House requested such reviews from executive agencies beginning in 2025.
Prediction Markets Also Enter Regulatory Debate
Alongside the crypto securities plan, regulators also addressed prediction markets. The CFTC separately submitted plans related to those markets to the White House.
CFTC Chairman Michael Selig said the agency intends to issue an advanced notice of proposed rulemaking. He explained regulators will define which products qualify for self-certification.
However, opposition has also emerged. A coalition group called “Gambling is not investing” argues some prediction markets violate existing laws. The group claims certain platforms enable illegal sports betting activity.
It also argues operators must comply with state and tribal gaming regulations. Meanwhile, federal agencies continue reviewing both regulatory proposals as the process moves through interagency evaluation.
