The SEC Just Ended the Regulatory Guessing Game for Crypto

For years, the most expensive question in crypto compliance was: is this a security?

On March 19, 2026, the SEC and CFTC issued joint landmark guidance that answers it — for the first time — with a five-category taxonomy.

**1. Digital commodities** — Bitcoin, Ether, Solana, XRP, Cardano, Dogecoin, Chainlink, Polkadot, Avalanche, and 6 others. Regulated by the CFTC. Not securities.

**2. Restricted digital assets** — tokens that were once securities but have since decentralised. Pathway to commodity status exists.

**3. Digital asset securities** — tokens with ongoing managerial efforts and profit expectations. SEC jurisdiction.

**4. Stablecoins** — governed separately under the GENIUS Act framework.

**5. Non-fungible tokens** — case-by-case analysis required.

The practical consequence: exchanges, brokers, and custodians now have a published compliance map. The era of enforcement-by-ambiguity is over.

For any crypto business operating globally — or seeking to access US markets — this is the single most important regulatory development of 2026 so far.

At **COMPLaiNCE**, we are already integrating this taxonomy into our client advisory frameworks across Gibraltar, the UK, Spain, the EU, El Salvador, and Dubai.