The head of the Securities and Exchange Commission (#SEC ) Paul Atkins stated that 'very few' cryptocurrency tokens are securities and promised to protect the crypto industry from regulatory abuses.
A new approach to token regulation
Speaking at the Wyoming Blockchain Symposium, Atkins emphasized a more friendly approach to cryptocurrencies compared to the previous administration. 'We will move forward with the idea that the token itself is not necessarily a security and likely is not,' said the head of the SEC.
According to Atkins, the status of a token depends on the context of its sale and what surrounds it. 'In my opinion, very few tokens are securities, but it depends on what package surrounds them and how they are sold,' he explained.
From opposition to support for innovations
Atkins' position is radically different from that of his predecessor Gary Gensler, who considered most crypto assets to be securities. 'A new day has come, especially for this industry. We are for innovations. Now we want to embrace innovations,' emphasized the new head of the regulator.
Atkins' statements followed the launch last month of the 'crypto project' initiative, which, according to the head of the SEC, is aimed at 'modernizing' securities laws and helping American financial markets transition to blockchain.
In his post on social media X after the speech, Atkins wrote: 'We need to create a framework that will protect cryptocurrency markets from regulatory abuses in the future. I look forward to collaborating with colleagues in the administration and Congress to accomplish this task.'
The new SEC approach marks a significant shift in cryptocurrency regulation in the U.S. If Atkins' plans come to fruition, it could radically change the attitude of American financial institutions towards digital assets and accelerate their integration into the traditional financial system.
