[SEC Chair Announces 'Token Classification' Plan to Clearly Distinguish Whether Cryptocurrencies Are Securities] BlockBeats News, November 12 — Paul Atkins, Chair of the U.S. Securities and Exchange Commission (SEC), outlined his 'Token Classification' plan aimed at clearly distinguishing which cryptocurrencies qualify as securities. At the same time, the SEC is advancing digital asset regulation in a new way. Paul Atkins stated that the classification framework will be based on the Howey Test. The Howey Test originates from a 1946 U.S. Supreme Court ruling, which the SEC frequently references to determine whether an asset constitutes an investment contract and can therefore be considered a security. Paul Atkins further added that cryptocurrencies can be part of an investment contract, but that does not mean they will always remain so.