The U.S. Securities and Exchange Commission (SEC) held its first roundtable on crypto issues to explore the classification of crypto assets under federal securities laws. Key points included:

Legal foundation: Commissioner Caroline Crenshaw emphasized the importance of maintaining a robust legal framework to protect investors and markets. She warned against weakening regulatory protections for crypto assets, highlighting risks such as fraud, scams, and abuses in illegal activities.

Jurisdictional issues: Acting Chairman Mark Uyeda discussed the challenges of applying the Howey test to crypto assets, noting difficulties in determining whether these assets meet the criteria for securities.

The roundtable was an important step in the SEC's efforts to develop a comprehensive regulatory framework for digital assets.