SEC Director of the Division of Corporation Finance James Moloney detailed the Commission’s recent Interpretive Release setting out a framework for when crypto assets are subject to investment contracts under the Howey test and when such assets cease to be subject to investment contracts.

The SEC and CFTC jointly issued an interpretive release regarding the application of federal securities laws and federal commodities laws to certain crypto assets and transactions.

The CFTC’s Market Participants Division granted a no-action request to a crypto wallet software provider, permitting it and certain of its personnel to offer front-end software facilitating trading in CFTC-regulated derivatives without registering as an introducing broker, or associated persons, respectively.

The SEC proposed amendments to SEA Rule 15c2-11 that would limit the rule’s information-gathering and review requirements to broker-dealers publishing or submitting quotations for "equity securities" in over-the-counter markets.

The International Swaps and Derivatives Association recommended several regulatory reforms to address frictions in securities financing transactions that can constrain the availability of secured funding during periods of market stress.