Since Gary Gensler took over as chair of the SEC, the commission has consistently held the view that the majority of digital tokens should be treated as unregistered securities and fall under its jurisdiction. Gensler has not shied away from expressing his disapproval of cryptocurrency exchanges and the digital asset sector for their suspected failure to adhere to securities regulations. Even with the SEC filing multiple lawsuits, the issue of whether digital tokens should be classified as securities still lacks a definitive resolution, as Congress has yet to pass any clarifying legislation.