U.S. SEC Chairman: Most crypto assets are not securities, has instructed to establish clear rules and implement White House cryptocurrency recommendations

ChainCatcher news, according to SEC Chairman Gary Gensler, will direct various policy departments to collaborate with the cryptocurrency task force to implement the White House's cryptocurrency-related recommendations.

Staff has been instructed to draft clear rules for the allocation, custody, and trading of cryptocurrencies. Most crypto assets are not securities.

Staff has been directed to develop guidelines to determine when crypto assets qualify as securities. They have been asked to propose disclosure requirements and exemption provisions for crypto assets identified as securities, while also collaborating with companies seeking to issue tokenized securities. (Jin Shi)