SEC Chair Paul Atkins has stated that ICOs related to network tokens, digital collectibles, or digital tools should not be classified as securities, thus falling outside the SEC's regulatory scope. This clarification could impact how these digital assets are treated in the market. In another significant development, major banks including BNY Mellon, Wells Fargo, Bank of America, Charles Schwab, JPMorgan, and Citi are reportedly beginning to issue credit against Bitcoin or Bitcoin derivatives like IBIT. This move indicates a growing acceptance of Bitcoin as collateral in traditional financial systems.