Can the SEC and CFTC’s pro-crypto rules be overturned? Legal opinion
The SEC and the CFTC have issued a raft of pro-crypto rules recently. But will the rules hold up in court, and can they be easily rolled back by the “anti-crypto army”?
In the wake of the failed CLARITY cloture vote in the Senate, the SEC and CFTC immediately moved to issue their own rules for crypto markets.
Two days after the vote, the SEC unveiled a five-year exemption that permits the issuing and trading of stock tokens. OXK has since teamed up with ICE to launch trading in 63 NYSE-listed stocks and Securitize launched 12 Securitize Stocks, including Apple, Nvidia and Microsoft.
The SEC has also issued guidance clarifying that a crypto token doesn’t become a security just because a project is buying back its own tokens, and stated that liquid staking tokens are not securities. It has also proposed new rules for the custody of crypto assets.
