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U.S. SEC Chairman: The SEC announces the launch of a Crypto Assets project initiative aimed at modernizing securities rules and promoting on-chain markets. The SEC will direct the policy department to work with the Crypto Assets working group to implement the White House's Crypto Assets recommendations.
And instruct the committee staff to draft clear rules regarding the distribution, custody, and trading of Crypto Assets.
It also indicates that the majority of crypto assets are not securities. It has instructed committee staff to develop guidelines to determine when crypto assets are considered securities.