SEC Clarifies Crypto Asset Classification with New FAQs
The US Securities and Exchange Commission (SEC) has published a new set of FAQs to clarify how federal securities laws apply to crypto assets.
The document, issued by the SEC's Division of Corporation Finance on September 25, 2026, provides staff views on questions arising from its interpretation of federal securities laws in the crypto asset market.
The FAQs address several areas of the SEC's March 2026 interpretation concerning the classification of crypto assets and when particular assets or transactions may fall within federal securities laws. This includes functional and decentralized crypto systems, staking receipt tokens, and redeemable wrapped tokens.
The SEC staff also explains how it distinguishes a 'receipt' from other financial instruments, including whether the instrument provides holders with additional financial benefits beyond ownership of an underlying deposited asset.