The U.S. Securities and Exchange Commission (SEC) has released a "Token Classification Framework" that provides clear guidance for cryptocurrency asset regulation and reduces compliance uncertainty. This guidance categorizes crypto assets and helps promote industry stability, but formal legislative support is still needed to ensure long-term predictability.

SEC Chair Atkins emphasized that the recently released crypto asset interpretive guidance is an important starting point for regulation, with the key next step being congressional legislation. The stablecoin bill is nearing completion, and the market structure bill is also progressing, both of which could improve the regulatory environment. However, administrative interpretations have limited stability, and true binding authority still requires legislation to ensure. Long-term regulation remains uncertain.

Morgan Stanley has filed an amended S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) for the Morgan Stanley Bitcoin Trust (MSBT), a spot Bitcoin exchange-traded fund (ETF) set to trade on NYSE Arca under the ticker MSBT.