The agency sent out two draft regulations. They included clarifications on which digital assets the regulator can consider as securities. Last week, SEC Chairman Paul Atkins stated that there are four types of digital assets that are not considered securities. These are digital commodities, digital instruments, digital collectibles (including NFTs), and stablecoins.
If approved, the SEC's regulations will provide a transitional period for cryptocurrency regulation until the CLARITY market structure bill is adopted. In early March, the SEC and CFTC signed a memorandum on regulation to eliminate overlapping cryptocurrency rules.