COINOTAG News reports, citing Decrypt, that at the Blockchain Association’s annual policy summit, SEC Chairman Paul Atkins argued that several ICO formats may be considered non-securities transactions, potentially placing them outside the SEC’s regulatory remit. He referenced his recently released Token Classification Framework, which maps the crypto landscape into four core categories.

Under the framework, network tokens, digital collectibles, and utilities are identified as not securities, with related ICOs expected to follow suit as non-securities transactions. The delineation is aimed at clarifying regulatory boundaries and reducing coverage to items that fall outside securities laws.

Atkins emphasized that the SEC’s regulatory remit would cover only tokenized securities, defined as on-chain representations of SEC-regulated securities. If upheld, the stance could influence fundraising approaches and exchange classifications for crypto offerings seeking legitimacy through compliance.