U.S. financial regulators have taken a position contrary to the previous administration, which insisted that most cryptocurrencies are securities.


U.S. Securities and Exchange Commission Chairman Paul Atkins confirmed a significant shift in cryptocurrency regulation, stating that 'a very small number of tokens' should be classified as securities.

His remarks sharply contrast with those of his predecessor Gary Gensler, who believed that the vast majority of crypto assets are securities. He made this statement at the 2025 SALT Wyoming Blockchain Summit held on Tuesday.

Atkins, wearing an orange tie, stated that the SEC's 'crypto project' is aimed at establishing rules for such assets, which could affect how the agency handles corporate issues in the future.

He stated: 'We cannot view the tokens themselves as a security; from the perspective of the SEC, we will continue to maintain that the tokens themselves are not necessarily a security.'

'In my view, very few tokens are securities.'

Advancing cryptocurrency regulation.

After the meeting, Atkins stated on X: 'The President’s Digital Asset Market Working Group has issued clear recommendations to the SEC, and we will implement these recommendations as soon as possible.'

The agency plans to advance independently while Congress considers broader market structure legislation.

Atkins also praised the recently passed (GENIUS Act) stablecoin regulations, calling it a 'landmark step taken by the U.S. Congress and government.'

However, he also stated that after years of enforcement and regulation under the previous administration, the SEC still has a lot of 'spring cleaning' to do.

In related news: Robert Hines, former executive director of the White House Cryptocurrency Task Force during President Trump's term, has been appointed as the new advisor by stablecoin issuer Tether.

The cryptocurrency market correction deepens further.

Despite recent proactive measures by U.S. financial regulators, the cryptocurrency market's pullback continues to intensify. The total market capitalization fell further by 2.3% to $3.87 trillion, the lowest level in two weeks.

On Wednesday's Asian morning, Bitcoin led the decline, falling 2.7% to a low of $112,650. As of this writing, the asset has rebounded to $113,500, but is down 8.5% from last week's high and is expected to decline further.

As the market continues to collapse, Ethereum fell below $4,100 on Wednesday morning, erasing last week's gains.

The losses for altcoins are not as severe, but at the time of writing, they are mostly in a losing state.