Regulatory document representing a public policy submission

SEC Corp Fin Outlines Crypto Asset Guidance and Securities Framework Work

February 17, 2026 137

WASHINGTON, February 13, 2026 — The U.S. Securities and Exchange Commission’s Division of Corporation Finance said it is preparing recommendations relating to crypto assets, including interpretive guidance and a possible rule proposal addressing securities treatment, according to a statement published Friday by Division Director James Moloney.

CFTC Staff Letter 26-05 addressing digital assets as margin collateral

CFTC Staff Reissues No-Action Letter Addressing Use of Certain Digital Assets as Margin Collateral

February 16, 2026 164

WASHINGTON, February 6, 2026 — The U.S. Commodity Futures Trading Commission’s Market Participants Division issued Staff Letter No. 26-05, a no-action position stating that staff will not recommend enforcement action regarding futures commission merchants that accept certain non-security digital assets, including qualifying payment stablecoins, as customer margin collateral and take those assets into account for undermargined determinations and segregation calculations, or deposit the FCM’s own payment stablecoins as residual interest, subject to specified conditions.

EBA Supervisory Opinion Document

EBA Issues Opinion on End of No-Action Letter Transition Period Under MiCA–PSD2 Framework

February 14, 2026 181

PARIS, February 12, 2026 — The European Banking Authority (EBA) published an Opinion on the end of the No-Action Letter transition period, advising national competent authorities on supervisory actions as the transition period under its No-Action Letter concerning the interaction between the Markets in Crypto-Assets Regulation (MiCA) and the Revised Payment Services Directive (PSD2) concludes.

U.S. Capitol building in Washington, D.C.

SEC Chair Discusses Digital-Asset Oversight and CAT in Senate Banking Committee Testimony

February 12, 2026 164

WASHINGTON, February 12, 2026 — Paul S. Atkins, Chair of the U.S. Securities and Exchange Commission, delivered testimony Thursday before the U.S. Senate Committee on Banking, Housing, and Urban Affairs, outlining the agency’s regulatory priorities, including matters concerning digital assets and the Consolidated Audit Trail (CAT), according to prepared remarks released by the Commission.

United States Capitol building in Washington, D.C.

SEC Chair Testifies Before House Financial Services Committee

February 11, 2026 160

WASHINGTON, February 11, 2026 — Paul S. Atkins, Chair of the U.S. Securities and Exchange Commission, testified before the House Financial Services Committee, outlining the agency’s regulatory priorities and its approach to digital asset oversight, according to prepared remarks released by the Commission.