SEC Chairman unveils plan for “Token Taxonomy” to clearly distinguish whether cryptocurrencies are securities

According to Foresight News, according to The Block, U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins elaborated on his encryption "token taxonomy" plan to clearly distinguish which cryptocurrencies are securities. At the same time, the SEC is promoting digital asset supervision in a new way. Paul Atkins said the taxonomy would be based on the Howey test. The Howey test, which stems from a 1946 U.S. Supreme Court decision, is often cited by the SEC to determine whether an asset constitutes an investment contract and thus is further considered a security. Paul Atkins later added that cryptocurrencies can be part of investment contracts, but that doesn’t mean they will always be so.
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