Paul Atkins just dropped a perspective that could reshape how we look at token regulation. His take? A bunch of ICO categories shouldn't even be under SEC's radar—network tokens, digital collectibles, various digital tools, they're arguing these belong with the CFTC instead.

This isn't just bureaucratic shuffling. The divide between what counts as a security versus a commodity has real implications for how projects launch and operate. If network utility tokens get classified differently from traditional securities, that's a different compliance playbook entirely.

The argument centers on functionality—are we talking about investment contracts or actual network utilities and digital goods? Atkins is essentially saying the SEC's been casting too wide a net. Whether CFTC jurisdiction makes more sense for these categories depends on how you view their primary purpose.

Worth watching how this plays out. Regulatory clarity has been the elephant in the room for years, and any movement on jurisdictional boundaries could shift how the next wave of token projects structures itself.