U.S. SEC Commissioner: "Only a Small Fraction Are Securities Tokens... We Aim for Innovation"

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Summary

Paul Atkins, U.S. SEC Commissioner, stated that only a small portion of tokens are securities tokens, and that tokens are not necessarily considered securities.
Commissioner Atkins emphasized plans to embrace innovation in the digital asset industry and mentioned that most projects need not worry about securities regulation.
The industry has responded positively to the launch of 'Project Crypto' by the SEC, seeing it as a bold vision that will lead the on-chain transformation of financial markets.

The U.S. Securities and Exchange Commission (SEC) commissioner has stated that only a very small fraction of tokens are classified as securities.

According to The Block on the 20th (local time), Paul Atkins, SEC Commissioner, said at the Wyoming Blockchain Symposium, "Only a very small number of tokens are classified as securities," and added, "We will continue under the view that tokens themselves are not necessarily securities."

He also emphasized, "A new era has opened for the digital asset industry," and stated, "We aim to foster innovation, and now plan to embrace it." He continued, "Most digital asset projects will have little to fear regarding securities regulation."

He further expressed his intention to work to protect the digital asset market. Shortly after attending the symposium, Atkins posted on X (formerly Twitter), "We need to create a framework to protect the digital asset market from regulatory misdeeds," and said, "We will collaborate with the administration and Congress to accomplish this task."

Commissioner Paul Atkins has been steadily pursuing a pro-digital asset stance. Last month, the SEC launched 'Project Crypto', which aims to modernize securities laws and support the on-chain transition of financial markets.

The industry's response is positive. Bernstein described 'Project Crypto' as "the boldest and most innovative vision proposed by a sitting SEC chair, a project to reshape Wall Street’s rules."

Matt Hougan, CIO of Bitwise, also said, "Project Crypto is a five-year investment roadmap," and added, "Assets such as stocks, bonds, and the dollar will ultimately move on-chain."