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SEC Chair Atkins Says Most Tokens Aren’t Securities, Backs Crypto ‘Super‑App’ Licensing

The agency is shifting from case-by-case enforcement to formal rulemaking with draft rules now in progress.

Overview

  • In an OECD keynote, Paul Atkins outlined Project Crypto to deliver clear, predictable rules for digital asset markets and to end the prior enforcement-led approach.
  • The framework contemplates a single license for integrated platforms that combine trading, lending, staking and custody, with a focus on lowering duplicative compliance burdens.
  • The SEC will coordinate with other regulators, with a joint SECCFTC roundtable set for September 29 to discuss DeFi and advanced products such as perpetual contracts.
  • Atkins said the effort builds on recommendations from the President’s Working Group, while Commissioner Hester Peirce’s Crypto Task Force translates policy goals into draft rules.
  • Coverage noted immediate market optimism and project fundraising headlines, though specific rule texts, timelines and any statutory changes remain under development.