According to CoinMeta, as reported by Coin Bureau, the U.S. Securities and Exchange Commission (SEC) continues to advance crypto regulation without congressional involvement, introducing three new guidelines regarding who controls crypto networks: 1. Token holders who vote are generally not considered a “central party” unless they have contact or agree to act together; 2. If a central party can control access at the protocol, validator, or user level, then they are considered “supervising participants”; 3. The “functionality” of a network (i.e., the actual operation of its tokens within the network) is different from “decentralization” (meaning no one controls it). This is the latest move by the SEC since the “Clarify Act” failed in a Senate vote on September 15 with 49 votes against 50.