U.S. Securities and Exchange Commission Chair Paul Atkins said only a "very few" crypto tokens should be classified as securities, arguing that a token "itself is probably not" a security and that the legal status depends on how it is packaged and sold. He outlined the agency’s thinking at the Wyoming Blockchain Symposium in Jackson Hole on Tuesday. Atkins’ stance represents a sharp break from his predecessor, Gary Gensler, who maintained that the “vast majority” of digital assets fell under securities rules. The new chair said the SEC’s forthcoming "Project Crypto" aims to modernize securities law and move parts of U.S. markets on-chain, with the goal of "future-proofing" regulation against what he called potential "regulatory mischief." The policy shift arrives as lawmakers ready a broader statutory framework for digital assets. The House has already passed the Digital Asset Market Clarity Act, and Senate Banking Committee leaders plan to take up the measure when Congress returns from recess in early September.