Application of the Federal Securities Laws to Certain Types of Crypto Assets and Certain Transactions Involving Crypto Assets

Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Commodity Futures Trading Commission 17 CFR Part 1 RIN 3038-AF67 Securities and Exchange Commission 17 CFR Parts 231 and 241 [Release Nos. 33-11412; 34-105020; File No. S7-2026-09]li RIN 3235-AN56 AGENCY: Securities and Exchange Commission; Commodity Futures Trading Commission ACTION: Final rule; interpretation; guidance SUMMARY: The Securities and Exchange Commission (“Commission” or “SEC”) issues herein an interpretation regarding the application of the Federal securities laws to certain types of crypto assets and certain transactions involving crypto assets. The references in this release to “we” and “our” are to the Commission. The Commodity Futures Trading Commission (“CFTC”) provides herein guidance relating to that interpretation. DATES: Effective Date: March 23, 2026. ADDRESSES: Comments may be submitted by any of the following methods: Electronic Comments Use the Commission's internet comment form ( https://www.sec.gov/​comments/​s7-2026-09/​application-federal-securities-laws-certain-types-crypto-assets-certain-transactions-involving ); or Send an email to rule-comments@sec.gov . Please include File Number S7-2026-09 on the subject line. Paper Comments Send paper comments to Vanessa A. Countryman, Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549-1090. All submissions should refer to File Number S7-2026-09. This file number should be included on the subje…