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

BlockBeats News: On August 1st, SEC Chairman Atkins stated that he will instruct various policy departments to work with the Cryptocurrency Task Force to implement the White House's cryptocurrency related recommendations. The committee staff has been instructed to draft clear rules for the allocation, custody, and trading of cryptocurrencies. Most encrypted assets are not securities. The committee staff has been instructed to develop guidelines to determine when encrypted assets belong to securities. Staff have been requested to propose disclosure requirements and exemptions for encrypted assets recognized as securities, and to collaborate with companies seeking to issue tokenized securities. (Golden Ten)