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SEC promises crypto clarity, but will it last?
On Tuesday, Paul Atkins gave the crypto industry a late Christmas gift.
The Securities and Exchange Commission chair issued a landmark interpretation of federal securities laws, providing long-sought clarity on which blockchain-based assets count as securities and which ones don’t.
“The SEC’s persistent failure to provide clarity in this question is over,” Atkins, a longtime crypto supporter, said in a speech at the DC Blockchain Summit.
Vitally, the new taxonomy considers Bitcoin, Ether, Solana, and XRP to be digital commodities and not securities.
It’s a huge win for the crypto lobby. For years, the industry has argued that cryptocurrencies aren’t securities, but novel instruments...