US Securities Law

Definition ∞ US Securities Law comprises the federal and state statutes and regulations that govern the issuance, trading, and disclosure of securities within the United States. These laws aim to protect investors, maintain fair and orderly markets, and facilitate capital formation. Key legislation includes the Securities Act of 1933 and the Securities Exchange Act of 1934. Compliance is mandatory for all market participants.
Context ∞ The application of US Securities Law to digital assets remains a central and frequently debated topic, with the Securities and Exchange Commission often asserting jurisdiction over many cryptocurrencies. The classification of digital tokens as securities has significant implications for how they can be offered, sold, and traded. This continuing legal interpretation shapes the regulatory landscape for the digital asset industry.

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→Market Structure

→US Securities Law

→Tailored Exemptions

SEC Shifts Policy to Formalize Digital Asset Regulatory Framework

The SEC's pivot from enforcement to rulemaking mandates firms re-architect compliance to align with transaction-based securities analysis.

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→Howey Test Application

→Digital Commodities

→Project Crypto Initiative

SEC Chairman Outlines Formal Digital Asset Token Taxonomy Framework

The SEC's function-based token taxonomy provides a legal roadmap, shifting the compliance focus from enforcement litigation to proactive structural design.

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→Federal Oversight

→Legal Precedent Change

→Securities Act Clarity

SEC Dismisses Coinbase Suit, Pivots to Innovation-Focused Regulatory Framework

The SEC's strategic pivot from enforcement to a clear innovation framework fundamentally alters the US digital asset litigation risk profile.

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→No-Action Letter

→Regulatory Clarity

→Digital Asset Custody

SEC Staff Allows State Trust Companies as Qualified Crypto Custodians

The SEC Staff's No-Action Letter permits RIAs and Regulated Funds to use State Trust Companies as Qualified Custodians for digital assets, structurally de-risking institutional adoption.

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→Financial Control Reports

→Private Key Management

→State-Chartered Banks

SEC Staff Permits State Trust Companies as Qualified Crypto Asset Custodians

The SEC staff’s custody no-action relief expands the qualified custodian universe, strategically de-risking institutional crypto adoption.