U.S. SEC and CFTC advance regulatory plans targeting the crypto industry and prediction markets

ChainCatcher reports that, according to Bloomberg, two major U.S. regulatory agencies are advancing plans to regulate the crypto industry and rapidly growing prediction markets.

The U.S. Securities and Exchange Commission (SEC) has submitted a comprehensive guidance document to the White House Office of Information and Regulatory Affairs, addressing "the applicability of federal securities laws to certain types of crypto assets and transactions involving crypto assets." This guidance could establish token classification standards for crypto assets, clarifying which tokens fall under SEC jurisdiction. The Commodity Futures Trading Commission (CFTC) has also submitted measures regarding prediction markets to OIRA, considering new regulations for the industry, including issuing a pre-notice for proposed rules. The SEC Chair stated that the agency will consider providing interpretive guidance on the classification of crypto asset tokens to ensure investors and innovators understand their regulatory obligations. The CFTC Chair has previously announced plans to develop new rules for prediction markets.