$BTC SEC Guidance on Bitcoin:The SEC does not classify Bitcoin as a security; it’s treated as a commodity under the Commodity Futures Trading Commission (CFTC). Thus, Bitcoin itself isn’t subject to SEC securities regulations like stocks or tokens deemed securities (e.g., per the Howey Test).Recent SEC guidance focuses on crypto exchanges and custodians. For example, Staff Accounting Bulletin No. 121 (SAB 121, updated 2024) requires firms holding Bitcoin for clients to record it as both an asset and liability, impacting balance sheets but not Bitcoin’s use directly.Posts on X note ongoing SEC scrutiny of crypto platforms, but Bitcoin’s decentralized nature shields it from direct regulatory clamps compared to altcoins or staking services