The SEC’s implementation of the proposed interpretation of federal securities laws on digital assets is reportedly carrying more weight than staff-level statements.
Officials from the US Securities and Exchange Commission (SEC) have submitted a regulatory proposal to the White House that could change how the government applies federal securities laws to cryptocurrencies.
In a Tuesday filing with the White House Office of Information and Regulatory Affairs, the SEC sent “commission comments on the application of federal securities laws to certain types of cryptographic assets and certain transactions involving cryptographic assets.”
The move reportedly spells out interpretive guidance on the “token taxonomy” for cryptocurrencies, defining which tokens are considered securities under the SEC’s jurisdiction.
Unlike regulations that require public notice and comment periods, the proposed interpretive application of the federal securities laws carries more weight than staff-level statements. SEC Chairman Paul Atkins and Commissioner Hester Pearce said in February at ETHDenver that the agency has sought to clarify how securities comply with existing federal securities laws.
As of Thursday, the proposal was being reviewed by the White House office. Trump administration officials also held three hearings in 2026 related to the crypto market structure bill moving through the US Senate. The legislation, if passed, is expected to significantly affect how the SEC and the Futures Trading Commission (CFTC) oversee digital assets.
related to: Former OpenAI Researcher’s Hedge Fund Reveals Bitcoin Miners’ Big Bets in New SEC Filing
Separately, the CFTC sent its guidance on prediction markets to the White House on Monday. Michael Selig, who chairs the regulator, has argued that the agency has “exclusive authority” to oversee such markets.
The SEC and CFTC do not yet have commissioner appointees
As of Thursday, the SEC is headed by three commissioners and the CFTC by one on a body that is usually made up of a bipartisan group of five. The commissioners — Selig on the SEC and Atkins, Pierce and Mark Uyeda on the SEC — are all Republican members and do not represent any Democratic leadership.
US President Donald Trump has made no public statements indicating that he plans to nominate additional commissioners to either agency.
Magazine: What is “network mode” and are there any real-life examples? Big questions
