$CFX

The Chairman of the U.S. Securities and Exchange Commission (SEC) announced a comprehensive plan on Thursday aimed at reforming capital market regulation to better accommodate cryptocurrency and blockchain-based trading.

SEC Chairman Paul Atkins revealed that he has instructed the commission's staff to develop guidelines to help determine when cryptocurrency tokens should be classified as securities. This regulatory reform will also include proposals related to various disclosures and exemptions concerning digital assets.

This regulatory shift is a significant victory for the digital assets industry, which has long advocated for rules specifically targeting cryptocurrencies and blockchain technology.