The U.S. Securities and Exchange Commission (SEC) staff has issued additional FAQs concerning crypto asset activities, providing further guidance on regulatory matters. Hester Peirce, head of the SEC's Crypto Task Force, clarified that many non-fungible tokens (NFTs), including those designed to compensate their creators over time, are not considered securities under federal law. Peirce emphasized that crypto assets which do not represent economic rights or interests in a business entity or other promisor, and are solely intended for use or consumption, should not be subject to federal securities laws. She proposed a time-limited safe harbor to facilitate crypto asset transactions under specific disclosure and investor protection requirements. Peirce also called for clear criteria to distinguish crypto assets from investment contracts and advocated for exemptions to support ongoing projects. Additionally, she noted that even if many crypto assets traded in secondary markets were initially offered as investment contracts, they are no longer bought and sold as securities transactions.