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SEC commissioner won't declare all tokens are "securities"

Illustration: Rebecca Zisser / Axios

SEC Commissioner Hester Peirce isn’t yet “willing to make a blanket statement that everything other than Bitcoin is a security,” she said on Wednesday at the Medici conference in Los Angeles.

Why it matters: SEC chairman Jay Clayton and Commissioner Mike Piowar have both said publicly they've yet to see any initial coin offerings that don't look like a security.