Featured Product

    SEC Publishes Framework to Help Identify Digital Assets as Securities

    April 03, 2019

    FinHub, which is SEC's Strategic Hub for Innovation and Financial Technology, published a framework for analyzing whether a digital asset is offered and sold as an investment contract, and, therefore, is a security. The framework is not intended to be an exhaustive overview of the law, but rather, an analytical tool to help market participants assess whether the federal securities laws apply to the offer, sale, or resale of a particular digital asset.

    This framework represents staff views and is not a rule, regulation, or statement of SEC. The staff recognizes that determining whether a new type of financial instrument, including a digital asset, is a security can require a careful analysis of the nature of the instrument and how it is offered and sold. As financial technologies, methods of capital formation, and market structures continue to evolve, market participants should be aware that they may be conducting activities that fall within the SEC jurisdiction. For example, market participants may engage in activities that require registration of transactions and persons or entities involved in those transactions. Even if no registration is required, activities involving digital assets that are securities may still be subject to SEC regulation and oversight. The information in this framework may apply to entities conducting the following activities related to digital assets:

    • Offering, selling, or distributing
    • Marketing or promoting
    • Buying, selling, or trading
    • Facilitating exchanges
    • Holding or storing
    • Offering financial services such as management or advice
    • Other professional services

    Depending on the nature of the digital asset, including what rights it purports to convey and how it is offered and sold, it may fall within the definition of a security under the U.S. federal securities laws. If after applying the framework, market participants have questions on whether a particular digital asset is a security, they are encouraged to reach out to the staff.

     

    Related Links

     

    Keywords: Americas, US, Banking, Securities, Regtech, Crypto Assets, Digital Assets, Finhub, SEC

    Related Articles
    News

    EC Delegated Regulation on Specialized Lending Exposures Under CRR

    EC finalized the Delegated Regulation 2021/598 that supplements the Capital Requirements Regulation (CRR or 575/2013) and lays out the regulatory technical standards for assigning risk-weights to specialized lending exposures.

    April 14, 2021 WebPage Regulatory News
    News

    OSFI Consults on Minimum Qualifying Rate for Uninsured Mortgages

    OSFI is proposing new minimum qualifying rate for uninsured mortgages under the Guideline B-20.

    April 13, 2021 WebPage Regulatory News
    News

    ECB Updates List of Supervised Entities in EU in April 2021

    ECB updated the list of supervised entities in EU, with the number of significant supervised entities amounting to 115 as of the March 01, 2021 cut-off date.

    April 12, 2021 WebPage Regulatory News
    News

    OSFI Issues Letter on ICAAP Submission and Internal Audit of BCAR

    OSFI issued a letter to confirm that a formal Internal Capital Adequacy Assessment Process (ICAAP) submission is not required in 2021.

    April 12, 2021 WebPage Regulatory News
    News

    EC Agrees to Prolong Scheme to Support NPL Reduction at Greek Banks

    EC has approved the prolongation of an existing Greek scheme aiming to support the reduction of nonperforming loans, or NPLs, of Greek banks on the basis that it remains free of any State aid.

    April 09, 2021 WebPage Regulatory News
    News

    EIOPA Study Examines Internal Model Market and Credit Risks Under SII

    EIOPA published a report presenting the results of its yearly study on the internal modeling of market and credit risks under the Solvency II Directive, also known as SII.

    April 09, 2021 WebPage Regulatory News
    News

    ESMA Issues Notification Templates for STS Synthetic Securitizations

    ESMA published the interim simple, transparent, and standardized (STS) notification templates for synthetic securitizations, post the recent amendments to the Securitization Regulation.

    April 09, 2021 WebPage Regulatory News
    News

    EBA Issues Erratum for Phase 2 Package of Reporting Framework 3.0

    EBA published an erratum for the technical package on phase 2 of the reporting framework 3.0.

    April 08, 2021 WebPage Regulatory News
    News

    EBA Updates Lists of Entities for Use in Capital Calculations under SA

    EBA published an erratum for the technical package on phase 2 of the reporting framework 3.0.

    April 08, 2021 WebPage Regulatory News
    News

    FED Proposes to Automate Bank Stock Adjustment Using Call Report Data

    FED published a proposal to automate non-merger-related adjustments to member banks' subscriptions to Federal Reserve Bank capital stock.

    April 08, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 6835