SEC and CFTC Share Jurisdiction Over Cryptocurrency Regulation in the US

The regulation of cryptocurrency in the United States is complex and divided among several authorities. The Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have different statutory responsibilities, with oversight depending heavily on how an asset or transaction is classified.

The SEC administers federal securities laws and has authority over transactions involving securities, including those structured as investment contracts. In March 2026, the SEC issued an interpretation explaining how federal securities laws apply to crypto assets and transactions, establishing a taxonomy that covers categories such as digital commodities, collectibles, tools, payment stablecoins, and digital securities.

The CFTC, on the other hand, regulates commodity derivatives, including futures, options, and swaps tied to digital commodities. However, its authority over spot markets is limited, and it has provided guidance on facilitating certain spot crypto commodity products through SEC- and CFTC-registered exchanges.