Analysts: US SEC's cryptocurrency guidance brings an end to the Gensler era

According to Alex Thorn, director of company-wide research at investment firm Galaxy, the recent guidance issued by the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission on establishing a digital asset classification has put an "end" to the SEC's policy under former Chairman Gary Gensler. Guidance issued by the U.S. Securities and Exchange Commission on Tuesday established a digital asset classification system and divided them into five categories, including digital goods, digital collectibles (such as non-homogeneous tokens (NFTs)), digital instruments, stablecoins, and tokenized securities. Thorn said the new regulatory approach provides much-needed clarity to the cryptocurrency industry over the next 30 months; however, he clarified that the CLARITY Cryptocurrency Market Structure Act must be codified into law to consolidate these rules over the next few decades.