Bitcoin Stays Below $75K Despite New Guidance From Regulators

That’s according to a report from Coindesk on Wednesday (March 18), one day after the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) issued their first joint guidance on applying securities laws to crypto tokens.

The guidance from the two agencies classifies crypto tokens into five categories: digital collectibles, digital commodities, digital securities, digital tools, and stablecoins. As Coindesk notes, this guidance doesn’t hold the same weight as a formal rule, but it does provide more clarity on the digital asset space.

“After more than a decade of uncertainty, this interpretation will provide market participants with a clear understanding of how the Commission treats crypto assets under federal securities laws,” SEC Chairman Paul S. Atkins said in a news release. “This is what regulatory agencies are supposed to do: draw clear lines in clear terms.”

The agencies’ position represents a change from the existing system of case-by-case enforcement, delineating which tokens are considered securities and which are not, and is expected to give issuers and exchanges much‑needed guidance on how different assets will be regulated under federal law, the Coindesk report said.

“The practical effect is a more coherent and less burdensome regulatory environment. Legal uncertainty declines, the risk of retroactive enforcement is reduced, and compliance becomes more predictable,” Tagus Capital said, per Coindesk.

“This supports institutional participation, exchange development, and product innovation, while improving market structure through lower compliance costs and better price discovery. Although the guidance stops short of binding law and still leaves room for case-by-case interpretation, it sets a strong template for future legislation and may accelerate global regulatory convergence.”

Still, bitcoin, which had reached record levels last fall before a dramatic drop in price, was not able to break the $75,000 threshold. That’s what the Coindesk report called a “key resistance level” for the token.

“On the upside, $75,400–$76,000 continues to act as resistance,” Vikram Subburaj, CEO of India-based crypto exchange Giottus, told the news outlet. “Bitcoin needs to hold above this range to signal stronger momentum.”

The SEC and CFTC had announced a memorandum of understanding last week aimed at harmonizing how the overlapping areas of financial markets, the crypto sector included.

“The agreement reflects a long-awaited effort to reduce regulatory conflicts between the two agencies, whose jurisdictions frequently intersect, and who have both claimed authority over digital assets and crypto trading platforms that fell into gray areas,” PYMNTS wrote.