SEC chairperson unveils "token classification" plan to clearly distinguish whether cryptocurrencies are securities
2025-11-12 15:55:01
Paul Atkins, chairperson of the Securities Exchange Commission (SEC), laid out his plans for a crypto "token taxonomy" to clearly distinguish which cryptocurrencies are securities, and the SEC is advancing digital asset regulation in a new way. Paul Atkins said the taxonomy will be based on the Howie test. The Howie test stems from a 1946 US Supreme Court decision, which the SEC often uses to determine whether an asset constitutes an investment contract and thus is further considered a security. Paul Atkins then added that cryptocurrencies can be part of an investment contract, but that doesn't mean they will always be.
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