The US Securities and Exchange Commission’s latest crypto guidance has been issued as an interpretive rule rather than a binding law, meaning it explains how regulators view existing statutes without carrying full legal force. This approach allows both regulators and the industry to adapt more easily as the market evolves.

While this flexibility is seen as a positive step, it also means courts are not required to follow the guidance, leaving some uncertainty in place. Experts argue that long-term clarity will depend on legislation like the CLARITY Act being formally passed into law.