On March 17, 2026, the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) issued a landmark 68-page interpretation document, which for the first time systematically defined the crypto-asset classification framework: digital currencies such as BTC, ETH, SOL, and DOGE, as well as NFT digital collectibles, practical digital tools, and payment stablecoins licensed by the GENIUS Act, are not securities in themselves; behaviors such as airdrops, protocol mining, protocol pledges, and packaging do not trigger securities law obligations when they comply with the rules of the protocol. Today (March 18), the SEC quickly approved Nasdaq to launch a tokenized stock trading pilot, allowing traditional securities to achieve compliant settlement through the blockchain.Nasdaq's tokenized stock pilot was approved, and it moved traditional Wall Street stocks and bonds directly to the blockchain for settlement.