SEC Chair Paul Atkins stated that only a small number of crypto tokens should be categorized as securities. His comments were made during the Wyoming Blockchain Symposium, noting a shift in the SEC's approach to defining securities. This adjustment reflects the ongoing revision of regulations under the agency's Project Crypto initiative, which aims to influence how companies are regulated concerning digital assets. This stance contrasts with former SEC Chair Gary Gensler's claim that most crypto assets qualified as securities under the Howey test. Gensler resigned in January amid political changes, with Atkins taking over during a critical period as Congress considers new crypto market structure legislation. The Digital Asset Market Clarity Act, which passed in the House, aims to lay out a new framework for crypto regulations. The Senate Banking Committee's Chair has indicated potential bipartisan support for this new legislation, aiming for a clearer regulatory environment associated with digital assets.

Source đź”—