SEC Chairman: Most crypto assets are not securities, has instructed to establish clear rules and implement White House cryptocurrency recommendations.

On August 1, SEC Chairman Atkins stated that he would direct various policy departments to collaborate with the cryptocurrency task force to implement the White House's cryptocurrency-related recommendations. Staff has been instructed to draft clear rules regarding the issuance, custody, and trading of cryptocurrencies. Most crypto assets are not securities. Staff has been directed to develop guidelines to determine when crypto assets qualify as securities. Disclosure requirements and exemption provisions have been requested for crypto assets identified as securities, and staff has also been asked to work with companies seeking to issue tokenized securities. ( Jin10 )