SEC Submits Token Taxonomy Guidance as CLARITY Act Stalls

The U.S. Securities and Exchange Commission has submitted interpretive guidance on applying federal securities law to certain crypto assets, with the proposal under White House review and expected to outline a "token taxonomy" for assets under its jurisdiction, Bloomberg reports. An SEC spokesperson said the Commission will consider guidance around a token taxonomy in line with market structure legislation so investors and innovators better understand their regulatory obligations, noting this effort is separate from the SEC's pending rulemaking proposal on crypto asset offerings. Separately, the Commodity Futures Trading Commission has submitted a rulemaking proposal for multibillion-dollar prediction markets, and its Chairman Mike Selig has pledged to publish guidelines on crypto perpetuals by next month.