🔥 NGON: SEC and CFTC Issue Joint Guidance Confirming Most Crypto Assets Are Not Securities


The SEC/CFTC joint guidance (issued on March 17, 2026) officially clarifies that most crypto assets are not securities under federal law.
It creates a clear classification system: digital commodities, collectibles, instruments, stablecoins, and securities. Clarifying that staking, mining, airdrops, and wrapping are not automatically considered securities without "efforts of others" ongoing (Howey test). Investment contracts may terminate when decentralized.
Transfers most regulatory oversight to the CFTC, ending "regulation by enforcement" and bringing clarity to developers on innovation. A positive step forward for U.S. crypto.
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