SEC Chair Unveils Crypto Framework to Separate Securities From Collectibles
2025-11-16 08:55
The U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins has detailed the next phase of “Project Crypto,” guiding how digital assets will be regulated under federal securities laws. The effort builds on work led by Commissioner Hester Peirce and the Crypto Task Force, which focuses on transparent and economically fair treatment of cryptocurrencies. SEC Clarifies Which Tokens Are Not Securities In a recent address, Atkins talked about the uncertainty surrounding crypto classification over the past decade, explaining that most of it comes from the changing nature of digital assets. According to him, a cryptocurrency being part of an investment contract under the Howey test does not make it permanently a security because such agreements can end. “I believe that most crypto tokens trading today are not themselves securities,” he said. The new framework is based on a proposed token taxonomy that categorizes cryptocurrencies by function and the purchaser’s expectations....
