SEC Token Classification Framework Takes Effect, Bitcoin and Ethereum Face Major Regulatory Status Shift

Gate News Report, March 20 — The U.S. Securities and Exchange Commission (SEC) recently released the “Token Classification Framework,” seen as a significant development in crypto regulation. SEC Chair Paul Atkins stated that the framework clearly defines the regulatory jurisdiction of different types of crypto assets and called for proactive legislative adjustments by Congress in the future.

According to the guidelines, most crypto assets are categorized as digital commodities, digital collectibles, digital tools, and payment stablecoins, with only “tokenized securities” automatically falling under SEC regulation. This means mainstream assets like Bitcoin, Ethereum, Solana, Ripple, and Dogecoin will no longer be automatically considered securities, significantly reducing compliance uncertainties in the industry.

Industry experts generally believe this move provides clear rules for the U.S. crypto market. Cody Carbone, head of Digital Chamber, pointed out that the SEC and Congress are highly aligned in market structure legislative negotiations, and the new regulations are likely to become an important foundation for future laws. Meanwhile, the U.S. Commodity Futures Trading Commission (CFTC) also expressed willingness to cooperate, indicating increasing regulatory coordination.

Legal expert Steve Yelderman noted that a major highlight of the framework is the clarification of the “termination of the investment contract” condition, meaning that once a project fulfills its commitments, related tokens can shed their security status, providing clearer development pathways for project teams.

Despite the clearer regulatory direction, industry insiders emphasize the importance of legislative implementation. Analysts believe that without formal legal backing, policies may shift with political cycles, making it difficult to provide long-term stable expectations for the market. Therefore, advancing market structure bills like the Clarity Act remains seen as a key next step for the crypto industry.