According to Theblock, Paul Atkins, chairperson of the Securities Exchange Commission (SEC), unveiled plans at the Federal Reserve Bank of Philadelphia fintech conference to create a "token taxonomy" aimed at clearly distinguishing which cryptocurrencies are securities.
Initial classifications include: network tokens, NFTs and digital instrument tokens are not securities, while tokenised stocks and bonds are securities. Atkins said the classification would be based on the Howey test, a 1946 US Supreme Court case used to determine whether an asset is an investment contract. He pointed out that cryptocurrencies may be part of an investment contract, but this status is not permanent. The nature of tokens will change as networks mature, code is released, control is dispersed and the role of issuers diminishes.
SEC Chairperson Announces Token Taxonomy Plan
2025-11-13 03:09:08
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