SEC & CFTC Issues

We are committed to advancing legislative and regulatory solutions for the digital asset industry, with a focus on developing a framework that outlines the specific authority of each of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) over digital assets and the digital asset ecosystem.

government building

Although changes are occurring under the current administration, the existing U.S. regulatory system just doesn’t work for many blockchain technology-enabled use cases. This has led to regulatory confusion, enforcement and litigation risk, and repeated requests from the industry for legislation, rules, and guidance from Congress, the SEC, and the CFTC to provide regulatory clarity across a myriad of issues.

We are working tirelessly with Congress, the SEC, and the CFTC to provide all necessary resources, data, and input, as well as access to our members’ deep expertise, to help frame legislation, agency-proposed rules, guidance, interpretive relief, and exemptive orders. Through these and other efforts, we are helping to create the solutions that the digital asset industry has been requesting for so long across a wide range of issues and topics.

Learn More about Policy Issues and Our Impact
Policy Agenda

The Policy Issues

The rules shaping digital assets, AI, and emerging technologies are being written right now. These are the issues where clear policy can unlock innovation, strengthen trust, and keep America competitive.

01. Market Structure Legislation 02. SEC and CFTC Policy Priorities
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Market Structure Legislation

The rapidly evolving digital asset market urgently requires tailored market structure legislation in the United States to ensure robust, transparent, and effective regulation. We have been actively supporting Congress as it considers a series of bills that will create a specific market structure framework, defining certain types of digital assets, digital asset transactions and intermediaries as securities and securities-related, and therefore under the authority of the SEC, while defining other types of digital assets, digital asset transactions and intermediaries as commodities and commodities-related and therefore under the authority of the CFTC.
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SEC and CFTC Policy Priorities

We are experiencing a time of unprecedented positive regulatory momentum for the U.S. digital asset industry. As Congress continues its historic efforts around Market Structure legislation into 2026, we are seeing the SEC and CFTC move quickly to address many problematic, anti-digital asset positions put in place by past administrations. We support these efforts along with clear, rapid, coordinated agency exemptive relief, interpretative guidance and rulemaking by the CFTC and the SEC.  These actions will be critically important to establish a clear framework for the U.S. digital asset industry, even while Congress considers the broader Market Structure legislation issues. We stand ready to assist and provide every available resource.

Recent Updates

Our Impact

Through strategic advocacy, we’ve achieved milestones that promote regulatory clarity and support the growth of the digital asset industry.

2025 SEC Crypto Task Force Response

In 2025, the Token Alliance answered the call of Commissioner Hester Peirce and the Crypto Task Force, responding to their request for information on a wide range of issues impacting the digital asset industry. Our efforts resulted in 13 substantive response letters responding to all 48 questions with input from over 75 members. We continue to collaborate with the SEC on our feedback. See our efforts here.

CFTC President’s Working Group Recommendations

Throughout 2025, the Token Alliance actively provided feedback to the CFTC on a range of issues. In November 2025, we responded to the CFTC’s request for comment on the President’s Working Group on Digital Assets CFTC recommendations. Our message was clear, rapid, coordinated agency exemptive relief, interpretative guidance, and rulemaking by the CFTC and the SEC is critically important to establish a clear framework for the U.S. digital asset industry, even while Congress considers the Market Structure legislation.

Support of Spot Crypto Exchange Traded Products

Supporting the growth and success of the U.S. crypto investment product industry has long been a specific focus of the Token Alliance. In 2025, we published our industry-changing report “Beyond Merit – How the SEC’s Division of Investment Management Blocked Permissible Investments in Digital Assets.” This report led to direct changes at the SEC and opened investment opportunities around spot crypto exchange traded products that had been prohibited before our report.
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At The Digital Chamber, we have a Token Alliance Working Group that focuses on blockchain technology and financial regulatory frameworks. Join us in advocating for policies that educate policymakers, promote protection, and foster innovation.

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