Crypto Regulation Is Splitting by Asset Type

Crypto market entry decisions will increasingly depend on whether a token is treated as a security, payment token, or digital commodity. The transcript explains how the proposed U.S. Clarity Act could separate oversight between the SEC for digital securities and the CFTC for digital commodities, while leaving some unresolved edge cases around yield, pooled assets, DeFi, and hybrid instruments. It also highlights the operational impact of transparency, licensing, investor protection, and compliance costs. Technology and financial services leaders should treat crypto product design as a regulatory classification problem before entering the U.S. market.