SEC Clarifies Crypto Asset Handling in New FAQ Document – Coincu

On May 14, 2025, the U.S. Securities and Exchange Commission (SEC) released a Frequently Asked Questions (FAQ) document on non-securities crypto assets.

This development clarifies broker regulations and affects the financial management of Ethereum and Bitcoin.

SEC Exempts Non-Securities Crypto Assets from Broker Safekeeping Rule

The SEC’s FAQ clarified regulatory requirements for brokers handling non-securities crypto assets, excluding them from Rule 15c3-3’s holding and control requirements. These assets are also not protected under the Securities Investor Protection Act. Significantly, the net capital treatment involving Bitcoin and Ethereum specifically applies to crypto asset spot exchange-traded products (ETPs). Commissioner Hester M. Peirce emphasized that although the FAQ offers initial guidance for market participants, further refinement is anticipated. Eleanor Terrett, Fox Business Reporter, noted, “The only two crypto assets I can think of that the SEC has interacted with in a regulatory role (rather than an enforcement role) are the ETFs for Bitcoin and Ethereum. Will the review focus on these ETFs and the companies associated with them?” The FAQ is a step toward refining the regulatory landscape for crypto assets while awaiting additional updates.

Coincu research highlights that the SEC’s FAQs could prompt further industry changes, potentially leading to more comprehensive regulatory guidance. This is likely to affect both financial strategies and compliance practices.

Bitcoin Dominance and Historical SEC Decisions

Did you know? In 2024, the SEC’s approval of Bitcoin ETFs significantly increased market accessibility for traditional investors, reflecting the broader acceptance of cryptocurrency as a viable investment option.

Bitcoin (BTC) currently trades at $103,528.53, with a market cap of $2.06 trillion, according to CoinMarketCap. It dominates the market with a 62.48% share. The 24-hour trading volume stands at approximately $44.04 billion, exhibiting a 14.81% decrease. Over the past 90 days, its price rose 6.26%.

Coincu research highlights that the SEC’s FAQs could prompt further industry changes, potentially leading to more comprehensive regulatory guidance. This is likely to affect both financial strategies and compliance practices.