SEC Chair Paul Atkins stated that only a small portion of crypto tokens should be classified as securities, signaling a shift in the SEC’s approach to digital assets. This contrasts with former Chair Gary Gensler’s view that most crypto assets were securities. Congress is working on legislation to establish clear rules for the crypto market structure. Senate Banking Committee Chair Tim Scott suggested bipartisan support for the bill. The Senate is set to return from recess on Sept. 2.

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1. Bitcoin hits all-time high of $60,000 as institutional investors show increased interest in cryptocurrency. The digital currency has soared over 100% in 2021, with market cap surpassing $1 trillion.

2. Ethereum also sees record-breaking growth, climbing to over $2,000 per coin. Increased adoption of decentralized finance (DeFi) platforms contributes to the surge in Ethereum’s value.

3. Tesla announces that customers can now purchase vehicles with Bitcoin, making it the first major car manufacturer to accept the digital currency as payment. CEO Elon Musk has been a vocal supporter of cryptocurrency.: ‘There Are Very Few Tokens That Are Securities‘