Is this sell the news event on the horizon and the SEC issues its first guidance on which

cryptos are securities? You're watching CoinDesk Daily. I'm Jen Sanassi.

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Bitcoin's rally may be running in to sell the news risk ahead of the Fed decision.

Data from two prime shows Bitcoin has dropped after seven of eight FOMC meetings in 2025,

pointing to a consistent pattern of post-meeting weakness regardless of policy outcomes.

Markets are currently pricing in a Fed hold and just one 25 basis point cut this year,

while rising oil prices and geopolitical tensions could keep inflation elevated and limit the Fed's flexibility.

Bitcoin is heading into the March FOMC meeting, trading just below $74,000 after eight straight days of gains.

But history suggests the event

itself could trigger short-term downside. The SEC has issued its first guidance to finding which

crypto assets qualify as securities outlining new categories in coordination with the CFTC.

Only one category digital securities falls under the SEC's core oversight, according to Chair Paul Atkins, as the agency looks to narrow its focus.

The guidance is not yet a formal rule, but Atkins says a proposal, including an innovation exemption, could come within weeks.

The move marks the clearest effort yet by U.S. regulators to define crypto assets, aiming to bring

long-awaited clarity after years of uncertainty. And Senator Tim Scott says negotiations on a

crypto market structure bill are advancing behind the scenes. The Banking Committee chair expects to

review a draft of stable coin yield provisions as soon as this week, signaling renewed momentum

on the stalled legislation.

Stable coin yield remains a key sticking point, though lawmakers from both parties continue to

engage on the issue. Scott says progress on a draft would mark a meaningful step forward

with contributions from Senators Angela Alzobrooks, Tom Tillis, and the White House.

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