U.S. SEC Chairman has announced Project Crypto, a strategic initiative to fully integrate blockchain technology into the national financial market. The plan envisions establishing the United States as the ‘World Crypto Capital’ by leading global crypto innovation through enhanced regulatory frameworks and technological advancement.
Project Crypto aims to implement comprehensive on-chainization of financial systems, boosting transparency, security, and regulatory oversight. Leveraging blockchain’s decentralized ledger will reduce fraud risks, streamline compliance procedures, and lower operational costs across sectors.
Implementation will occur in structured phases, starting from late 2024, with complete adoption anticipated by 2027. The initiative will cover securities trading platforms, banking systems, and derivatives markets, creating a unified digital infrastructure.
The SEC underscores that combining strong regulatory standards with cutting-edge blockchain technology will stimulate economic growth and solidify U.S. financial dominance globally. Firms are urged to prepare by familiarizing themselves with blockchain applications, monitoring regulatory updates, and adopting compliant cryptocurrency solutions ahead of implementation deadlines.