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Story summary
- SEC Chairman Paul Atkins announced a 'token taxonomy' framework at the Philadelphia Fed Fintech Conference on November 12, 2025 to clarify which digital assets qualify as securities.
- The framework lists four categories—digital commodities, digital collectibles, digital tools, and tokenized securities—with only tokenized securities classified as securities.
- The SEC will allow non-security tokens to trade on platforms regulated by the CFTC or state agencies to balance innovation with investor protection.
