A US SEC commissioner stated that most encryption assets are not securities and supports the issuance of clear guidance.

[SEC Commissioner Says Most Crypto Assets Are Not Securities, Supports Clear Guidance] Hester Peirce, a commissioner of the U.S. Securities and Exchange Commission (SEC), stated at SEC Speaks: “Currently, most crypto assets in the market are not securities.” She added, “Although many crypto assets are currently outside of the TradFi market, the development of crypto assets is accelerating as traditional intermediaries are gradually getting involved.” She criticized the SEC’s past approach to crypto regulation, stating, “The committee’s actions regarding crypto assets in recent years have avoided robust regulatory practices,” and “have not provided useful guidance.” She emphasized, “The committee has now begun to work on providing clear guidance.” For example, “Staff recently clarified that they believe certain meme coins and stablecoins are not securities,” because they do not confer economic rights to commercial entities or other parties. She supports further guidance to clarify which activities fall outside the scope of securities law.