The SEC’s Division of Corporation Finance added crypto-asset guidance on November 2, saying participants in broad-based governance generally are not a single “central party” if they are unaffiliated and have no agreement to act together outside the system. It said a network’s functionality does not establish its decentralization. The FAQs are staff views, not a Commission rule, and create no new legal obligations.
On November 3, the division said it would not recommend enforcement over Canton Coin’s minting without specified securities registrations, based on the facts presented by counsel. The response is an enforcement position, not a legal conclusion, and different facts could change the outcome. On November 5, the CFTC said regulated contract markets generally cannot exclude an otherwise eligible participant solely because of their U.S. location; it directed markets to end noncompliant restrictions within 30 days or explain why they cannot. That guidance is interpretive, and the CFTC said enforcement would depend on the facts.
On November 6, OFAC designated eight Canada-based money services businesses, alleging activity involving Iran’s digital-asset sector; the designations generally bar U.S.-nexus transactions with the targets unless authorized or exempt. Separately, former FBI agent Patrick Steven Yaroch pleaded guilty on November 5 to wire fraud and money laundering involving cryptocurrency credentials in FBI systems. According to Justice Department agreed facts, he obtained about $2.47 million; sentencing is scheduled for March 4, 2027, and no sentence has been imposed.
