SEC–CFTC Crypto Ruleshift
The SEC and CFTC released a joint framework that classifies most crypto assets into five token categories and designates 16 major tokens — including Bitcoin, Ethereum and Solana — as "digital commodities," clarifying paths for tokens to exit investment‑contract status. The agencies also fast‑tracked removal of contract limits for Bitcoin and Ether ETF options, and market players like Fidelity are pushing for clearer broker‑dealer rules to enable regulated custody and trading. (crypto.news)
The agencies released a 68‑page interpretive release on March 17, 2026 establishing a five‑part token taxonomy and explicitly naming 16 digital assets as “digital commodities.” (sec.gov) The joint document’s list of the 16 named assets (beyond the three cited in briefings) includes XRP, Cardano (ADA), Chainlink (LINK), Avalanche (AVAX), Polkadot (DOT), Hedera (HBAR), Litecoin (LTC), Dogecoin (DOGE), Shiba Inu (SHIB), Tezos (XTZ), Bitcoin Cash (BCH), Aptos (APT), and Stellar (XLM). (phemex.com) (fintechweekly.com) NYSE Arca and NYSE American filed rule changes on March 10 and, after the SEC fast‑tracked approval, removed the 25,000‑contract position and exercise limits on options linked to 11 spot Bitcoin and Ether ETFs, a change exchanges say applies immediately to ETFs from issuers including BlackRock, Fidelity, ARK Invest, Grayscale and Bitwise. (financialcommission.org) (msn.com) Nasdaq previously had the SEC waive the standard 30‑day waiting period to allow removal of the 25,000 cap for its venues, and exchanges now say they can offer FLEX and larger institutional option positions tied to those crypto ETFs under the new approvals. (coinalertnews.com) (coincentral.com) Fidelity formally urged the SEC on March 23, 2026 to update broker‑dealer rules so broker‑dealers can custody and trade digital assets, to permit blockchain‑based recordkeeping for broker‑dealers and transfer agents, and to set standards for secondary trading of tokenized securities and ATS integration. (theblock.co) (crowdfundinsider.com) The interpretive release appears on the Federal Register as File No. S7‑2026‑09 and Release No. 33‑11412, with the Commission soliciting public comment via the SEC rules portal and the CFTC coordinating administration under the Commodity Exchange Act. (federalregister.gov) (sec.gov)
