PANews reported on March 18 that, according to The Block, the U.S. Securities and Exchange Commission (SEC) and the China Federation of Trade Unions (CFTC) jointly released a new 68-page guidance clarifying that most cryptocurrencies are not securities. SEC Chairman Paul Atkins stated at the Blockchain Summit in Washington that this move will provide market participants with clear guidance on how federal securities laws apply to crypto assets.

The guidelines detail the classification of stablecoins, digital goods, and "digital instruments," all of which are considered non-securities. They explain how "non-securities crypto assets" can be transformed into securities, and how federal securities laws apply to mining, protocol staking, and airdrops. Digital goods are defined as assets that "derive value from and are intrinsically linked to the programmatic operation and supply and demand dynamics of a functional crypto system," and digital collectibles are also not considered securities. Atkins stated, "We are no longer the 'Securities and All Things Committee,'" a stark contrast to the stance of former SEC Chairman Gary Gensler, who considered most cryptocurrencies as securities. CFTC Chairman Michael Selig also attended the summit.