US SEC’s guidance is first step toward rules governing crypto ETFs

New US Securities and Exchange Commission guidance on disclosure requirements for exchange-traded products tied to cryptocurrencies marked the first step toward approval of dozens of applications for ETFs linked to everything from Solana and XRP to President Donald Trump‘s eponymous meme coin.

The guidance, issued last Tuesday, signaled a dramatic shift by Republican leadership in how the top US markets regulator deals with the crypto sector. The SEC has launched a task force to draft new regulations, refocused its crypto enforcement team and paused…