SEC Submits Crypto Securities Guidance to White House for Interagency Review

The U.S. Securities and Exchange Commission has sent interpretive guidance on how federal securities laws apply to certain crypto assets and related transactions to the White House's Office of Information and Regulatory Affairs for interagency review, journalist Eleanor Terrett reports. The document, issued by the commission rather than staff, seeks to clarify how current law applies to crypto transactions and token classifications without creating new rules, and will proceed separately from the SEC's ongoing rulemaking on crypto asset offerings. After OIRA review, the SEC's three commissioners are expected to vote on the interpretation, which an agency spokesperson said aims to clarify obligations for investors and innovators and align with broader market structure legislation under discussion. Separately, the Commodity Futures Trading Commission submitted a plan on prediction markets to the White House and plans an advance notice of proposed rulemaking to define which products qualify for self-certification, while a coalition group called "Gambling is not investing" argues some prediction market platforms enable illegal sports betting and must comply with state and tribal gaming regulations.