The Securities and Exchange Commission has released its comprehensive regulatory framework for cryptocurrencies, providing long-awaited clarity for the industry.
The framework establishes clear guidelines for determining when digital assets qualify as securities, creates a registration pathway for crypto exchanges, and provides a regulatory sandbox for DeFi protocols.
Key Provisions
- Clear securities test for tokens
- Exchange registration pathway
- Stablecoin oversight rules
- DeFi regulatory sandbox
Industry leaders have largely welcomed the framework as a significant improvement over previous regulation-by-enforcement approaches.