Policy | March 17, 2026

SEC Defines Crypto Classes

The SEC and CFTC published a shared taxonomy for digital assets that narrows when crypto falls under securities law and explicitly carves staking, mining, and airdrops out of the SEC's reach.

The Securities and Exchange Commission published its clearest crypto taxonomy yet, and the Commodity Futures Trading Commission signed onto the same framework. The guidance does not have the force of a final rule, but it gives the market a sharper picture than it has had in years.

Atkins said most crypto assets are not themselves securities. The new interpretation splits the field into categories such as digital commodities, digital collectibles, digital tools, stablecoins, and digital securities. It also says the SEC's reach does not extend to airdrops, protocol staking, or protocol mining.