SEC Chairman: Various types of cryptocurrency ICOs do not fall under securities trading, will focus on the regulation of tokenized securities

According to Decrypt, SEC Chairman 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 mentioned the token classification he introduced last month, which divides the cryptocurrency industry into four main token categories. He believes that three of these categories—network tokens, digital collectibles, and digital tools—should not be considered securities, and the related ICOs should also be regarded as non-securities transactions.

Atkins stated, "The three areas fall under the CFTC's regulatory scope, and we let them handle it; we will focus on tokenized securities." He pointed out that the only category of ICOs that the SEC should regulate is tokenized securities, which are representations of securities already regulated by the SEC that are traded on-chain.