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📦 Rewards Overview:
Creator Graduation Bonus: 50 GT
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The SEC plans to advance the "Token Classification Act" to define the securities attributes of Crypto Assets.
On November 12, Paul Atkins, chairman of the SEC, outlined its crypto “Token Classification” plan to clearly distinguish which Crypto Assets are considered securities, while the SEC is advancing digital asset regulation in a new way. Paul Atkins stated that the classification will be based on the Howey test. The Howey test originates from a 1946 U.S. Supreme Court ruling, which the SEC often references to determine whether an asset constitutes an investment contract, and thus is further regarded as a security. Paul Atkins later added that Crypto Assets can be part of an investment contract, but that does not mean they will always be so.