Tokens not likely deemed securities by the SEC (Patreon)

This is more great news from the new smarter and more crypto friendly SEC

Below are key characteristics that reduce the likelihood of a token being classified as a security:

• Fiat-backed stablecoins with transparent reserves: Stablecoins that are 1:1 backed by fiat currency, regularly audited and designed for payments rather than investments are generally not viewed as securities by the SEC.

• Layer-1 utility tokens for network operations: Tokens like Ether ETH, Solana SOL and Avalanche AVAX are used to pay gas fees and validate transactions, not for profit-seeking. Their decentralized validator networks and functional utility lower the chances of being labeled securities.

Could be reason XRP has been tanking of late and funds being pulled from ETPs etc