SEC and CFTC Joint Guidance Cites CryptoPunks, Chromie Squiggles and WIF as Digital Collectibles
The SEC (U.S. securities regulator) and CFTC (U.S. derivatives regulator) issued joint guidance that includes examples of digital collectibles based on their stated understanding.
Summary
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Terms & Concepts
Digital collectibles: Blockchain-based items, often represented as unique tokens, that are collected for cultural, artistic, or community value.
CryptoPunks: An early Ethereum-based digital collectible project widely associated with the NFT market.
Joint guidance: A coordinated regulatory statement issued by multiple agencies to clarify how they currently understand or approach a topic.