According to a report by CoinDesk on April 25, Deep Tide TechFlow news states that Nasdaq submitted a 23-page letter of recommendation to the U.S. Securities and Exchange Commission (SEC) cryptocurrency working group, proposing to classify digital assets into four categories: financial securities, digital asset investment contracts, digital asset commodities, and other digital assets. The proposal aims to clarify the regulatory agency vesting for each type of asset.

Nasdaq suggests that the SEC will be responsible for regulating securities-like assets, while the Commodity Futures Trading Commission (CFTC) will oversee commodity-like assets. The letter was signed by Nasdaq's Chief Regulatory Officer John Zecca, who also recommends that the two agencies establish cross-border trading guidelines for platforms capable of handling multiple types of digital assets.