New crypto regulations likely to be big favor to the Trump family, industry insiders say
Regulators narrow securities definitions – a shift that could benefit Trump family’s crypto projects Sign up for the Breaking News US email to get newsletter alerts in your inbox On Tuesday, major US financial regulators published rules for the cryptocurrency industry that may reduce regulatory requirements and that insiders believe will benefit the Trump family’s ventures. The Securities and Exchange Commission (SEC) issued new guidelines for the cryptocurrency industry to answer the longstanding question of what does or does not qualify as a security, a classification that entails strict oversight. SEC chair, Paul Atkins, has dubbed the framework a “token taxonomy” for the sector. Published jointly with the Commodity Futures Trading Commission (CFTC), the guidelines classify most of crypto-based assets as commodities, collectibles, payment tokens or “digital tools”, exempting them from the SEC’s more stringent oversight and disclosure requirements. Only blockchain-based representations of existing securities, such as stocks and bonds, remain classified as securities under this new framework. Continue reading...