SEC Chairman: Only a very small number of cryptocurrencies are considered securities, and their nature depends on the way they are packaged and sold

ChainCatcher news, according to The Block, U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins stated at a blockchain seminar in Wyoming that very few cryptocurrencies qualify as securities, a stance that sharply contrasts with that of his predecessor. Atkins emphasized that the tokens themselves are not necessarily securities; their nature depends on the manner in which they are packaged and sold.

The SEC previously launched the "Project Crypto" initiative aimed at modernizing securities laws and facilitating the migration of U.S. financial markets to on-chain. Atkins stated that the SEC will embrace innovation and will work with various government departments and Congress to build a framework to prevent regulatory overreach.