New SEC Commissioner Says Most Crypto Tokens Aren’t Securities

Most tokens aren’t securities, says SEC commissioner

In a significant departure from past policy, SEC Commissioner Paul Atkins stated that “very few” cryptocurrency tokens are securities.

Speaking at the Wyoming Blockchain Symposium, Atkins promised to protect the crypto industry from regulatory overreach and to shift toward a more innovation-friendly approach.

SEC Chair Paul Atkins said the token itself is likely not a security. Source: SALT (YouTube)

“We’re going to plow forward on this idea that just the token itself is not necessarily the security, and probably now,” he said.

A clear break from the previous administration

Atkins’ stance is a clear reversal of the position held by former SEC Chair Gary Gensler, who considered most crypto assets to be securities.

“It’s a new day, especially for this industry,” Atkins emphasized. “We are for innovation, and now we want to embrace it.”

He explained that the regulatory status of a token depends not just on the token itself, but on the context in which it is sold — including how it’s marketed and what is offered alongside it.

Launch of a “Crypto Project” at the SEC

Atkins’ remarks come shortly after the launch of a new crypto initiative within the SEC.

The project is designed to modernize outdated securities laws and help U.S. markets adapt to blockchain-based financial systems.

We must craft a framework that future proofs the crypto markets against regulatory mischief. I look forward to working with my counterparts across the Administration and Congress to get the job done.

— Paul Atkins (@SECPaulSAtkins) August 19, 2025

A turning point for U.S. crypto regulation?

If Atkins’ proposals gain traction, it could transform the way U.S. financial institutions view and engage with digital assets.

Rather than treating crypto as a threat, the new SEC approach appears to view it as an opportunity — one that should be regulated sensibly but without stifling innovation.

Final Thoughts

The SEC’s pivot under Paul Atkins could mark the start of a new era for crypto in the U.S. — one where blockchain technology and digital assets are no longer sidelined by ambiguous or overly aggressive regulation.