Regulation· ★★★· neutral· September 18, 10:20

Ex-SEC official: Atkins' crypto plan exceeds agency's authority

—Stark: Atkins' plan exceeds SEC authority under Securities Act Section 28 and Exchange Act Section 36
—Criticism of the safe harbor: issuers could self-certify instruments as non-securities
—Stark cites the major questions doctrine after the CLARITY Act failed in the Senate
—The former official warned of a possible legal challenge to the SEC initiative

Why it matters: A legal challenge to the SEC plan creates uncertainty for tokens and tokenized assets in the US.