SEC Chair Declares Most Crypto Assets Are Not Securities

Speaking at the Economic Club of Dallas, SEC Chair Paul Atkins declared that “most crypto assets are not themselves securities.” According to 24/7 Wall St., he pointed to the agency's proposed Regulation Crypto Assets and an Innovation Exemption intended to facilitate the trading of tokenized securities onchain.

The regulatory remarks follow four days after Ripple announced that the Office of the Comptroller of the Currency granted final approval for its Ripple National Trust Bank charter. Despite these developments, $XRP saw limited movement, trading at $1.25 and up 1.12% over 24 hours.

Regulatory Proposals And Safe Harbors

The SEC proposed Regulation Crypto Assets on August 18, 2026, aiming to establish a rulebook for fundraising. The proposal includes a safe harbor provision designed to offer legal protection when a token ceases to be classified as an investment contract, marking the point where backers' management responsibilities conclude.

Meanwhile, $XRP's legal status remains governed by Judge Analisa Torres's July 2023 ruling, which found that the token itself is not an investment contract, though certain institutional sales violated unregistered offering laws.

Ripple Focuses On Stablecoin Growth

Ripple's business model centers increasingly on its stablecoin, Ripple USD ($RLUSD), which holds a market valuation exceeding $2.43 billion and an A2 rating from Moody's. The newly approved Ripple National Trust Bank is integrated with this stablecoin business to manage segregated reserves, act as a collateral trustee, and provide custody services.

Market competitors are also advancing in the regulatory space. Circle Internet Group secured final OCC approval for its charter in July 2026, while Robinhood Markets plans to settle in $RLUSD on the XRP Ledger, and BNY is adding both $XRP and $RLUSD to its custody services.

Key facts

• SEC Chair Paul Atkins stated that most crypto assets are not securities during a speech at the Economic Club of Dallas.
• The SEC proposed Regulation Crypto Assets on August 18, 2026, to exempt startups raising up to $5 million over four years and $75 million annually from full registration.
• Ripple received final OCC approval for its Ripple National Trust Bank charter four days prior to Atkins's remarks.
• $XRP traded at $1.25, up 1.12% over 24 hours, following the regulatory updates.