SEC Chairman: BTC and ETH have been clearly defined as non-securities. On March 18 at the 2026 DC Blockchain Summit, SEC Chairman Paul Atkins announced a new token classification framework and an investment contract interpretation framework, ending a prolonged regulatory uncertainty.
This framework exempts four types of non-securities: digital commodities (BTC, ETH), digital collectibles, digital instruments, and payment stablecoins under the GENIUS Act. Only "digital securities" (traditional securities that are tokenized) fall under securities law.
Mr. Atkins emphasized that the SEC is no longer the "Securities and Everything Commission."