Non-EU Regulators
Securities and Exchange Commission (US) (SEC)
US federal securities regulator — asserts jurisdiction over crypto-assets classified as securities under the Howey test.
Definition
The SEC supervises securities markets in the United States. The 2024-2026 regulatory direction has clarified that many crypto-assets fall within securities classification under the Howey test, triggering registration and disclosure obligations. The SEC v Coinbase, SEC v Binance cases shape the boundary.