Sectors
Foley & Lardner LLP partner Patrick Daugherty authored the Blockchain Lawyers Review article “When and How Do the Securities Laws Apply to Crypto Assets?” examining the SEC’s 2026 Commission-level interpretation clarifying longstanding uncertainties surrounding crypto assets.
Daugherty, chair of Foley’s Blockchain and Digital Assets practice, analyzed the SEC’s new taxonomy for crypto assets — including digital commodities, digital collectibles, digital tools, and stablecoins. He also discussed the doctrine whereby tokens may “separate” from investment contracts as projects decentralize over time.
“The Interpretation is a major milestone on the path toward clarifying the laws applicable to the crypto industry and its customers in the United States,” Daugherty highlighted.
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