BlockBeats News, on August 1, the Chairman of the U.S. Securities and Exchange Commission, Gary Gensler, stated that he would instruct various policy departments to cooperate with the cryptocurrency task force to implement the White House's cryptocurrency-related recommendations. He has instructed committee staff to draft clear rules for the distribution, custody, and trading of cryptocurrencies. Most crypto assets are not securities. He has instructed committee staff to develop guidelines to determine when crypto assets should be classified as securities. Staff has been asked to propose disclosure requirements and exemption provisions for crypto assets deemed to be securities, and they have also been asked to collaborate with companies seeking to issue tokenized securities. (Jin Shi)

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