US Securities and Exchange Commission (SEC) Chairman Paul Atkins reiterated that he is taking a more moderate approach to cryptocurrency regulation compared to the previous administration.
SEC Chairman Paul Atkins: “Very Few Token Securities”
Atkins noted that only a “very small number” of crypto assets could be considered securities.
“The token itself is not a security, and probably not. In my opinion, very few tokens are securities. The key here is how the token is packaged and presented to investors,” Atkins said at the Wyoming Blockchain Symposium on Tuesday.
This announcement follows the SEC’s launch last month of its “Project Crypto” initiative, which Atkins described as aiming to “modernize securities laws” and move American financial markets on-chain. This project stands in sharp contrast to former SEC Chairman Gary Gensler’s approach, which defined the majority of crypto assets as securities.
“A new era has begun for the crypto industry. We are committed to innovation, and we now want to embrace it,” Atkins said. In a post from his X account, he added, “We must create a framework that protects crypto markets from future regulatory abuse.”
The project has also received positive feedback from industry analysts, with Bernstein describing the initiative as “the boldest and most transformative vision ever put forth by an SEC chairman,” while Bitwise CIO Matt Hougan said Project Crypto could be the investment roadmap for the next five years.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/sec-chairman-paul-atkins-says-few-cryptocurrencies-can-be-considered-securities-here-are-the-details/
