SEC Chair Declares Most Tokens Aren’t Securities-Crypto World Gasps! 😲

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SEC Chair Paul Atkins, in a move that would make even Jeeves raise an eyebrow, has declared that most tokens are not securities. A stance as refreshing as a cucumber sandwich on a summer’s day, this puts him at delightful odds with his predecessor, Gary Gensler.

U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins has taken a stance toward cryptocurrency so friendly that one might mistake him for the life of a blockchain-themed garden party. 🎩🍻

In a speech delivered at the Wyoming Blockchain Symposium-a gathering presumably filled with more acronyms than a Scrabble tournament-Atkins opined that very few crypto tokens should be considered securities. “Tokens themselves,” he mused, “are probably not securities.” Rather, the classification depends on how they’re bundled and sold, much like deciding whether a pudding is savory or sweet based on its garnish. 🍮

How Atkins Views Token Classification

Addressing the audience in Jackson Hole-presumably while wearing something tweed-he assured them that the SEC won’t assume every token is a security by default. Instead, they’ll examine each offering with the care of a detective solving a particularly tricky crossword puzzle. “There are very few, in my mind, tokens that are securities,” he said. “It all hinges on the packaging and the sales pitch.”

SEC Chair Paul Atkins says “very few” tokens should be classified as securities!

This colossal shift comes just days after the XRP lawsuit officially ended-a landmark moment for crypto clarity!

– BULLRUNNERS (@BullrunnersHQ)

This is quite the departure from former SEC Chair Gary Gensler, who often claimed that the “vast majority” of tokens were securities under the Howey test. Atkins, however, is steering the SEC toward fostering innovation rather than smothering it under red tape. One can almost hear the collective sigh of relief from crypto enthusiasts everywhere. 😌

Project Crypto and Market Modernisation

Last month, the SEC launched Project Crypto-an initiative so ambitious it could only have been dreamed up by someone who reads too many sci-fi novels. Designed to update securities laws to be more welcoming for investors and issuers, Atkins described it as an effort to help U.S. financial markets move on-chain. “It is a new day, especially for this industry,” Atkins proclaimed. “We are about innovation. Now we want to embrace innovation.”

: SEC Chair Paul S. Atkins just unveiled “Project Crypto,” a blueprint to make the U.S. the crypto capital of the world and move the U.S financial markets on-chain.

– Subjective Views (@subjectiveviews)

Analysts and industry leaders are already buzzing about Project Crypto like bees around a particularly fragrant flower. Bernstein analysts called it one of the most transformative crypto visions ever proposed by a sitting SEC chair. Meanwhile, Bitwise CIO Matt Hougan suggested that stocks, bonds, and even dollars could eventually move on-chain. Imagine that-a world where your wallet is digital, and your investments are as portable as your favorite novel. 📚💰

Congress Prepares to Step In

While Atkins busies himself modernizing the SEC faster than you can say “blockchain,” lawmakers are also getting in on the action. The U.S. House of Representatives passed the Digital Asset Market Clarity (CLARITY) Act in July. Leaders in the Senate Banking Committee plan to build on the bill when the Senate reconvenes on September 3.

Senate Banking Committee Chair Tim Scott hinted that as many as 18 Democrats may join Republicans to support new market structure legislation. Such bipartisan harmony is rarer than a perfectly cooked soufflé these days, but if achieved, it could push a law through by year’s end. Atkins welcomed the effort but made it clear the SEC plans to keep forging ahead. “We must craft a framework that future-proofs the crypto markets against regulatory mischief,” he tweeted after the symposium-a statement so bold it practically demands its own brass band. 🎺

Contrast With the Previous Administration

The change under Atkins marks a significant departure from the SEC’s approach during the Biden administration. Gary Gensler, who chaired the agency until January, argued that most tokens were securities and should fall under SEC oversight. His approach caused as much friction with the crypto industry as mismatched socks at a formal dinner. Accusations of “regulating by enforcement” flew faster than champagne corks on New Year’s Eve.

Overall, Atkins’ stance could open the door to many new developments within the crypto space, including ETF approvals and new product baskets that could completely change how investors approach digital assets. It’s enough to make one wonder if the SEC will soon start accepting Bitcoin tips. 🤑

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2025-08-21 07:57