TechFlow news, December 10 — According to Decrypt, SEC Chair Paul Atkins stated at the Blockchain Association's annual policy summit that various types of ICOs should be considered non-securities transactions and therefore fall outside the SEC's regulatory scope.
Atkins specifically referenced the token classification framework he introduced last month, which divides the cryptocurrency industry into four main token categories. He argued that three of them—network tokens, digital collectibles, and digital utilities—should not inherently be regarded as securities, and related ICOs should thus be treated as non-securities transactions.
"Three areas fall under CFTC jurisdiction; we're letting them handle it. We will focus on tokenized securities," Atkins said. He noted that the only category of ICOs the SEC should regulate is tokenized securities—representations on a blockchain of securities already regulated by the SEC.
