On November 2, 2026, the SEC Division of Corporation Finance added questions 1.4, 1.5 and 1.6 to its crypto-assets FAQ. The new answers clarify governance through a foundation or organisation, what constitutes control over participation, and the difference between a functional network and a decentralised one. Under the staff explanation, the existence of a native asset does not by itself make a system decentralised, and the presence of a foundation does not automatically establish central control because actual powers and decision-making rules must be assessed. These clarifications give lawyers and protocol developers more concrete guidance but do not change existing legal obligations or carry the authority of a final Commission rule. They are neither an approval of a platform, security or stablecoin nor a signal about token prices.
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