SEC Chair Clarifies Crypto Rules
SEC Chairman Paul Atkins has said that only a very small number of cryptocurrencies should be seen as securities. He shared this view at the Wyoming Blockchain Symposium 2025.
Atkins explained that whether a token is a security depends on how it is “packaged and sold,” not on the coin itself.
“Just the token itself is not necessarily a security, and probably not,” he said. “There are very few, in my view, tokens that are securities.”
This is a big shift from the view of former SEC Chair Gary Gensler, who said most crypto tokens fell under U.S. securities law. Gensler’s stance led to strict actions against many crypto projects.
A Softer Approach to Crypto
Since taking office in April, Atkins has promised more regulatory clarity. He has worked to reduce fear in the market and open the door to crypto innovation.
His latest remarks add to recent positive steps, such as the launch of Project Crypto, a plan to create clear rules for trading, custody, and token sales.
Project Crypto Goals
| Focus Area | Goal |
|---|---|
| Token offerings | Clear rules for sales |
| Custody | Guidance for storage |
| Trading | Updated market rules |
Atkins said the SEC may use exemptions and new tools so that old rules do not block new ideas.
Broader U.S. Push for Digital Assets
The Trump administration has also backed new policies to keep the U.S. a leader in digital assets. A Working Group on Digital Assets is calling for one strong national framework.
The U.S. House recently passed three major crypto bills, including the GENIUS Act, which sets the first federal rules for stablecoins.
Atkins added that the SEC must guard against unfair enforcement and “future proof” the market.
“We must craft a framework that future proofs the crypto markets against regulatory mischief,” he said, stressing the need for clear and fair rules.
