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SEC proposes "Token Classification Framework": Anchored by the Howey Test, exploring non-securitization pathways for crypto assets
SEC Chairman Paul Atkins proposed establishing a "token taxonomy" to distinguish between cryptocurrencies and securities based on the Howey Test. The SEC has launched "Project Crypto," allowing tokens to be traded on CFTC or state platforms, and is considering exemptions for crypto assets. He reiterated strict punishment for fraud and confirmed that "tokenized securities" still qualify as securities. The House has passed related legislation, and the Senate is also moving forward.

