Unchained · Tuesday, July 28, 2026
The Biden administration has proposed legislation to delineate regulatory authority between the CFTC and SEC for digital assets. The proposal suggests the CFTC would oversee digital assets deemed commodities, while the SEC would regulate those classified as securities, using a test based on the economics of the transaction.
“So the Biden administration proposed legislation that would give the CFTC jurisdiction over digital assets that are considered commodities, and the SEC jurisdiction over digital assets that are considered securities.”
“And they're proposing a specific test to determine whether or not something is a commodity or a security.”
“And I think that this is something that the industry has been asking for for a really long time.”