🚨NEW: Today, the @SECGov posted an interpretation to the Office of Information and Regulatory Affairs outlining how federal securities laws apply to certain crypto assets and related transactions. While interpretations don’t change the law, the Commission issuing this guidance, rather than staff-level guidance, signals it views the interpretation as consequential for the market. Notably, it is separate from the SEC’s pending rulemaking proposal on crypto asset offerings. Once the guidance completes interagency review at OIRA, the three commissioners will vote on it. An SEC spokesperson said: “As Chairman Atkins said, the Commission will consider interpretive guidance around a token taxonomy for crypto assets - in line with market structure legislation - to ensure that investors and innovators have a clear understanding of their regulatory obligations.”(Eleanor Terrett)