The Token Playbook · Daily Digest

The Tokenization Digest

Regulatory signals, market moves, jobs, and events — curated daily for practitioners in the tokenized asset economy.

Published weekdays at 7:30 AM ET

Issue #1 · March 20, 2026

SEC & CFTC Drop the Token Taxonomy: Five Categories That Reshape the Industry

Today's Signal

The joint SEC/CFTC interpretive release (No. 33-11412) establishes a five-category framework for digital asset classification. This is the regulatory unlock the industry has been waiting a decade for — and it changes everything for issuers, platforms, and investors.

On March 17, 2026, the SEC and CFTC issued Joint Release No. 33-11412 — the most consequential digital asset regulatory document in US history. It establishes five mutually exclusive categories for digital token classification: **1. Digital Commodities** — Bitcoin, Ethereum, and tokens with no issuer or expectation of issuer effort. CFTC jurisdiction. No securities law obligations. **2. Digital ...

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