US SEC and CFTC Jointly Release Interpretive Guidance on Crypto Assets, Expected to Take Effect on March 23

Gate News reports that on March 22, the joint guidance document on cryptocurrency issued by the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) was submitted to the Federal Register on March 20. It is expected to take effect immediately after its official publication on March 23 (next Monday). The document has authoritative authority at the commission level, replacing the 2019 “Analysis Framework for Digital Asset Investment Contracts” and guiding enforcement and regulatory work of both agencies. This cryptocurrency guidance document is based on the Project Crypto initiative launched in 2025 and is regarded as a “cryptocurrency regulatory bridge,” providing market participants with directly actionable regulatory guidance. It also offers immediate compliance clarity for entrepreneurs and investors ahead of bipartisan legislative efforts in Congress to establish a market structure. Its interpretive power and practical influence will guide industry behavior, judicial analysis, and enforcement policies, offering a more stable compliance basis than previous employee-level guidance.