SEC Chief Paul Atkin's Project Crypto Flying Under Radar Amid Market Selloff: Bernstein
Main Idea
SEC Chairman Paul Atkins unveiled 'Project Crypto', a plan to modernize U.S. securities rules to attract crypto businesses back to the country and establish the world’s largest tokenized securities market.
Key Points
1. SEC Chairman Paul Atkins introduced 'Project Crypto' to update outdated securities regulations for the digital age.
2. The initiative aims to 'reshore' crypto businesses to the U.S. after years of regulatory uncertainty drove them away.
3. The SEC plans to build the world’s largest tokenized securities market on American soil.
4. The announcement comes amid a downturn in crypto markets, positioning it as a transformative vision for the industry.
Description
As crypto markets plunged Friday, a potentially historic regulatory shift flew under the radar, Wall Street broker Bernstein said in a research report Monday. In a speech that Bernstein analysts called “the boldest and most transformative crypto vision ever laid out by a sitting SEC chair,” U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins unveiled 'Project Crypto', a sweeping initiative to modernize the country’s outdated securities rules for the digital age. The initiative aim...
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