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SEC issues crypto staff guidance after CLARITY Act vote fails
The SEC said its updated FAQ interpretation is non binding and has no legal force or effect.
The US Securities and Exchange Commission has updated its staff guidance on how federal securities laws could apply to certain crypto assets and certain transactions involving them, according to Cointelegraph.
The update came after a failed cloture vote on the CLARITY Act, and it follows similar guidance from the federal commodities regulator, the US CFTC.
In a Friday update to the SEC’s frequently asked questions that were originally issued in March, the agency said its latest interpretation is non binding, has no legal force or effect, does not alter or amend existing law, and does not create new or additional obligations.