According to an interview with the Blockchain Association (U.S. crypto industry group) on December 9, Paul Atkins said these offerings are not securities transactions and therefore fall outside SEC (U.S. securities regulator) supervision.
On December 9, SEC (U.S. securities regulator) Chairman Paul Atkins stated in an interview with the Blockchain Association (U.S. crypto industry group) that many types of ICOs (initial coin offering token sale) should not be considered securities transactions. He added that such offerings therefore do not fall under SEC supervision.