The SEC and CFTC jointly issued landmark regulatory guidance, classifying crypto assets into five categories: digital commodities, digital collectibles, digital tools, payment stablecoins, and digital securities. The guidance clarifies that the first four categories are not securities, with only tokenized forms of traditional securities subject to securities law.

This move is truly "historic"—it completely ends the ambiguity of the Gensler era's stance that "most tokens are securities" and the years-long chaos of "enforcement as regulation." Now, Bitcoin, Ethereum, and others are classified as digital commodities, NFTs as collectibles, payment stablecoins established as an independent category under the GENIUS Act, and the industry finally has a clear "identity."

More importantly, the SEC clarified that assets can transition between categories based on different issuance methods, and is preparing a "safe harbor" proposal to provide compliance pathways for startup projects. This signals a shift in regulatory approach from "crackdown" to "guidance," clearing the biggest obstacles for institutional capital inflows. The crypto sector is moving from wild growth into the fast lane of compliant development.#比特币突破7.5万美元 $KAT