SEC Brings Out “Project Crypto” to Make U.S. the Blockchain Capital of the World
Main Idea
SEC Chairman Paul S. Atkins announced 'Project Crypto', a new initiative to position the U.S. as a global leader in blockchain finance by overhauling regulatory frameworks and promoting innovation in the crypto industry.
Key Points
1. Project Crypto marks a shift from the SEC's previous enforcement-heavy approach under former Chair Gary Gensler, aiming to reduce regulatory stifling of innovation and prevent crypto firms from moving offshore.
2. The initiative includes protecting self-custody and platform choice as core American values and moving away from duplicative oversight.
3. The SEC plans to introduce an 'innovation exemption' to allow novel crypto business models to launch with temporary relief from certain regulations.
4. The agency will revisit regulations to facilitate tokenized equities and blockchain-based market infrastructure, paving the way for advanced financial technologies.
5. A new Crypto Task Force, led by Commissioner Hester Peirce, will oversee the implementation of Project Crypto, with draft rules to be published for public comment.
Description
SEC Chairman Paul Atkins announced “Project Crypto,” a sweeping initiative to modernize digital asset regulation. The plan shifts the SEC away from enforcement-driven policy, introducing clear asset classifications. Draft rules are forthcoming, and Commissioner Hester Peirce is leading the Crypto Task Force. In a landmark speech on July 31st, SEC Chairman Paul S. Atkins announced “Project Crypto”, a Commission-wide initiative to overhaul the agency’s approach to digital assets. The goal is to po...
Latest News
- Economist Peter Schiff Slams Saylor as a ‘Con Man’ and Tariffs as a ‘Consumer Tax’2025-08-02 04:29:01
- Cardano (ADA) Set for Major Breakout: Analyst Sees $6+ Potential2025-08-02 04:18:15
- Bitcoin Correction Begins, Analyst Says It’s Time to Accumulate for Next Crypto Run2025-08-02 03:53:52
- US Lags Global Trend on Rate Cuts, Delaying Crypto Rally: Analysts2025-08-02 03:43:03
- PUMP Price Tests Critical Floor After $5.9 Million in Bullish Bets Wiped Out2025-08-01 18:11:23