SEC Chair Atkins: Many ICOs are not securities

In an interview with Decrypt, U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins stated that a significant number of Initial Coin Offerings (ICOs) possess non-security characteristics and may not be subject to SEC regulation. Atkins specified that tokens used for network utility, digital collectibles, or as tools are not subject to securities laws. He argued that such ICOs should instead fall under the jurisdiction of the Commodity Futures Trading Commission (CFTC).