Former chairman of the U.S. Securities and Exchange Commission (SEC) #JayClayton said that "the vast majority" of tokens or #cryptocurrencies are a #security or a "security." His view supports that of current #SEC Chairman #GaryGensler

During his appearance at CordaDay, Jay Clayton admitted that the definition of "security" is broad, although regulators rely on the Howey Test to determine whether an asset with some technology qualifies as a "security." According to Clayton, the regulator relied on that test to include the major tokens: $SOL $ADA $MATIC BNB or BUSD