SEC
Crypto Enforcement Action Tracker
Tracking major regulatory enforcement actions against digital asset firms — SEC, CFTC, OFAC, FCA, ESMA, and international authorities.
FIT21 (Financial Innovation and Technology for the 21st Century Act)
The 2024 House-passed legislation that established the decentralization test for crypto classification, gave the CFTC jurisdiction over digital commodity spot markets, and became the legislative foundation for the CLARITY Act.
FIT21: The Digital Asset Market Structure Act That Changed American Crypto Law
FIT21 — the Financial Innovation Technology for the 21st Century Act — passed the House 279-136 in May 2024. The first major US crypto bill to pass a chamber, it became the template for the CLARITY Act.
Howey Test
The four-part legal test derived from a 1946 US Supreme Court case that determines whether a transaction constitutes an 'investment contract' and therefore a security subject to SEC regulation.
Notice-and-Comment Rulemaking (US)
The formal process under the US Administrative Procedure Act by which federal agencies propose and finalise binding regulations, including rules governing crypto asset markets.
Open Regulatory Consultations Tracker
Tracking open and recently closed regulatory consultations on digital assets and tokenization — opportunities to shape policy before rules are finalized.
Paul Atkins: The SEC Chair Who Reversed a Decade of Crypto Enforcement
Paul Atkins — confirmed SEC Chair in 2025 — launched 'Project Crypto', announced a token taxonomy, and fundamentally reoriented the SEC from enforcement-first to engagement-first on digital assets. A profile of the most consequential crypto regulator in the world.
Regulation A+ (US Mini-IPO Exemption)
The JOBS Act 2012 securities offering exemption permitting retail investor participation up to $75 million annually, with SEC review of the offering document — providing a pathway for tokenized securities to reach non-accredited investors.
Regulation Crowdfunding (Reg CF)
Regulation Crowdfunding under the JOBS Act permits token issuers to raise up to $5M per year from retail investors through registered funding portals.
Regulation D (US Securities Exemption)
The US private placement exemption under the Securities Act 1933, providing the primary legal basis for token sales to accredited investors through Rule 506(b) and 506(c), including the SAFT structure.
Regulation S (US Offshore Securities Exemption)
How Regulation S exempts offshore token sales from SEC registration requirements, including compliance requirements and resale restrictions.
Regulatory Capture
The phenomenon whereby regulatory agencies come to serve the interests of the industries they regulate rather than the public interest, through mechanisms including the revolving door, lobbying, and information asymmetry.
SEC (Securities and Exchange Commission)
The SEC's role in crypto and tokenized securities regulation, from the Howey Test framework through the Gensler enforcement era to the Atkins reform agenda.
SEC Crypto Rulemaking: From Enforcement-First to Project Crypto
How the SEC's approach to digital asset regulation transformed from Gary Gensler's enforcement-first era to Paul Atkins' Project Crypto — and what each approach means for the tokenization industry.
Security vs Commodity: The Classification That Determines Everything
The foundational US regulatory classification dispute that determines whether a crypto asset falls under SEC or CFTC jurisdiction, with fundamentally different compliance implications for each outcome.
The Political Economy of Tokenization: Lobbying, Power, and Who Writes the Rules
Why tokenization regulation looks the way it does — the interests, coalitions, institutional dynamics, and political forces that shape digital asset law.
The Revolving Door in Crypto Regulation
The movement of personnel between crypto regulatory agencies and the crypto industry, raising questions about regulatory capture while providing genuine expertise to both sectors.
The Revolving Door in Crypto Regulation: A Systematic Map
The movement of individuals between crypto industry and government regulatory positions — in both directions — is the most structurally significant feature of US crypto regulatory politics in 2024-2026.
United States: From Enforcement-First to Legislative Leader in Digital Asset Policy
The US digital asset policy landscape — GENIUS Act, CLARITY Act, SEC transformation, Fairshake PAC, and the political economy of American crypto regulation.
US Tokenization Legislation: Every Bill, Every Hearing, Every Vote
The complete guide to US digital asset legislation — from the GENIUS Act to CLARITY, from SEC enforcement to the CFTC's expanding role, and the political forces that shaped each outcome.