[SEC Explores Token Classification Framework, Focuses on Howey Test and Crypto Asset Regulatory Path] SEC Chairman Paul Atkins has proposed establishing a 'token taxonomy' to classify crypto assets as securities based on the Howey Test. He stated that crypto assets could gradually shed their investment contract attributes as networks mature and control becomes decentralized. The SEC has launched 'Project Crypto,' planning to allow tokens associated with investment contracts to trade on CFTC or state-regulated platforms and is considering introducing exemption packages for crypto assets. Atkins emphasized strict enforcement against fraudulent activities while confirming that stocks and other 'tokenized securities' still fall under the securities category. On the legislative front, the House of Representatives has passed an industry regulatory bill, and the Senate's corresponding version is underway. The SEC's efforts aim to complement congressional legislation.