SEC-CFTC MOU + Interpretive Release (Mar 17 2026)
eventIntelligence & Surveillance · Crypto & Digital ID
In one stroke, US regulators declared most crypto is not a security, clearing the legal path for it.
Who they are
A March 17 2026 cooperation agreement (MOU) between the SEC and CFTC, America's two main markets regulators.
What they do
It set up a new, practical rulebook sorting digital assets into clear categories.
How it works
It declared digital commodities (like Bitcoin), collectibles (NFTs, meme coins), digital tools, and payment stablecoins (like RLUSD) are NOT securities, while digital securities are; it also raised the legal bar for calling something a security to require 'explicit and unambiguous' promises of managerial effort.
Why it matters
It gave legal cover to XRP's open-market trading and shielded the RLUSD stablecoin from securities liability, a major green light for those crypto players.
The engine's record — word for word
Unprecedented coordination between SEC + CFTC under Memorandum of Understanding. Established new pragmatic taxonomy for digital assets: Digital Commodities (Bitcoin etc.) NOT Securities; Digital Collectibles (NFTs, meme coins) NOT Securities; Digital Tools NOT Securities; Payment Stablecoins (RLUSD) Categorically NOT Securities; Digital Securities Are Securities. Howey threshold raised to "explicit and unambiguous" managerial-effort promises. Validates XRP secondary markets; shields RLUSD from securities liability.
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