Daniel Stabile Discusses SEC Chair's "Token Taxonomy"  Remarks with Bloomberg News

Winston & Strawn partner Daniel Stabile was quoted in a Bloomberg News article discussing Securities and Exchange Commission (SEC) Chair Paul Atkins’ remarks stating that many categories of digital assets are not securities. In the statement, Atkins proposes a new “token taxonomy”, moving towards a system that categorizes certain types of digital assets as securities or commodities.  

The United States has already passed the GENIUS Act, which provides that certain dollar-pegged payment tokens are not securities and creates a special license for their issuers, and has advanced market structure legislation, which would define when a digital asset is a commodity rather than a security.

“The speech is a rebuke of the commission’s approach to digital assets during the Gensler era,” said Daniel, referring to Atkins’ predecessor Gary Gensler. Although the speech “will be celebrated by the industry as another step toward regulatory clarity,” Daniel noted that creating a taxonomy is fraught with some risk for the industry.

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