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US SEC/FinCEN Digital Asset Regulatory Framework

US regulatory framework governing the issuance, trading, and custody of digital assets under SEC and FinCEN.

View official source document

Rules extracted

172

Obligations decomposed

15.6x

Avg obligations per rule

🇺🇸 United States

Jurisdiction

About this regulation

This composite regulatory framework consolidates the principal US federal requirements governing digital assets. It includes the SEC's Framework for Investment Contract Analysis of Digital Assets (Howey test application), FinCEN's MSB registration and Travel Rule requirements for virtual currency businesses, Regulation D exemptions for token offerings, Regulation S offshore token sale provisions, Regulation A+ for token offerings, SAB 121/122 crypto custody accounting guidance, and broker-dealer custody rules for digital asset securities. Together these instruments define when digital assets are securities, how they may be offered, and what AML/custody obligations apply.

What AuditDSS covers

Source

Regulation

Extracted

Rules

Decomposed

172

Obligations

15.6x

Decomposition ratio

Each rule is decomposed into an average of 15.6 atomic obligations — the smallest testable units that can be independently violated.

Fully extracted & scored

All 172 obligations have been decomposed, titled, risk-scored, and embedded for semantic matching.

Risk scoring

Every obligation in SEC/FinCEN Digital Assets is scored across independent risk dimensions:

Obligation Weight

How critical within the regulatory framework

Violation Likelihood

How often breached in practice

Enforcement Evidence

Regulator enforcement history and penalties

Cascade Dependency

How many obligations depend on this one

Regulatory details

Full title: US SEC/FinCEN Digital Asset Regulatory Framework
Regulatory body: Securities and Exchange Commission
Jurisdiction: 🇺🇸 United States
Document type: framework
Effective date: April 3, 2019
Issuing authority: Securities and Exchange Commission (SEC) and Financial Crimes Enforcement Network (FinCEN)
Industry: AML & Counter-Terrorism Financing
Official source: View source document ↗

Who this applies to

digital asset issuerstoken promotersbroker-dealersmoney services businessesvirtual currency transmittersexchange operatorsinvestment advisers

Key requirements

Howey test investment contract analysis
FinCEN MSB registration
Travel Rule ($3K threshold)
Regulation D token offering exemptions
Regulation S offshore token sales
Regulation A+ public token offerings
SAB 121/122 crypto custody accounting
broker-dealer custody rules

Frequently asked questions about SEC/FinCEN Digital Assets

What is SEC/FinCEN Digital Assets?

Who does SEC/FinCEN Digital Assets apply to?

SEC/FinCEN Digital Assets applies to digital asset issuers, token promoters, broker-dealers, money services businesses, virtual currency transmitters, exchange operators, investment advisers.

How many obligations does SEC/FinCEN Digital Assets contain?

AuditDSS has decomposed SEC/FinCEN Digital Assets into 172 atomic obligations from 11 rules. Each obligation is independently testable and risk-scored.

What are the key requirements of SEC/FinCEN Digital Assets?

The key requirements include: Howey test investment contract analysis, FinCEN MSB registration, Travel Rule ($3K threshold), Regulation D token offering exemptions, Regulation S offshore token sales, Regulation A+ public token offerings, SAB 121/122 crypto custody accounting, broker-dealer custody rules.

How can I assess my SEC/FinCEN Digital Assets compliance?

Upload your compliance policy to AuditDSS. The platform maps your document against all 172 SEC/FinCEN Digital Assets obligations using deterministic AI scoring — not checklists or LLM summaries. You get a risk-scored gap analysis showing exactly which obligations are covered, partially covered, or missing.

Which jurisdiction enforces SEC/FinCEN Digital Assets?

SEC/FinCEN Digital Assets is enforced in United States by Securities and Exchange Commission.

When did SEC/FinCEN Digital Assets come into effect?

SEC/FinCEN Digital Assets became effective on April 3, 2019.

What industry does SEC/FinCEN Digital Assets apply to?

SEC/FinCEN Digital Assets is primarily relevant to the AML & Counter-Terrorism Financing industry. AuditDSS covers 64 regulations in this industry sector.

Build a SEC/FinCEN Digital Assets compliance pack

Don't have a compliance policy yet? AuditDSS generates a complete compliance pack for SEC/FinCEN Digital Assets — alone or combined with other regulations your business needs. Every clause is mapped to specific obligations.

Policy

High-level commitments and governance framework covering SEC/FinCEN Digital Assets requirements.

Procedures

Step-by-step operational procedures to implement each policy commitment.

Forms & checklists

Ready-to-use forms, registers, and checklists for day-to-day compliance operations.

Multi-regulation

Combine SEC/FinCEN Digital Assets with other regulations into a single unified compliance pack for your business.

Build SEC/FinCEN Digital Assets compliance pack

Already have a policy? Assess it against SEC/FinCEN Digital Assets

Upload your document

Upload your compliance policy, program manual, or operational document. AuditDSS accepts any text-based document.

AI maps against 172 obligations

Your document is scored against every obligation in SEC/FinCEN Digital Assets. Each claim is mapped to the obligation tree and evaluated for coverage.

Risk-scored gap report

Receive every gap ranked by risk priority with remediation guidance, enforcement evidence, and cascade impact analysis.