Analysis: The US court's decision on the ATB Coin case will provide guidance on when the securities law will treat tokens as securities.

According to Cointelegraph, the US court's recent ruling on the ATB Coin refusal motion will provide further guidance on when the US securities law will treat tokens as securities. The plaintiff of the ATB Coin class action alleged that there were two violations of the securities law: the defendant offered and sold unregistered securities in the form of ATB tokens. The defendant initiated a refusal motion, stating that the court lacked personal jurisdiction. "The court supports the SEC's precedent, that is, ICO can be a securities issue, even if there is no proportional distribution of profits.