Atkins: All Divisions Mobilized

Atkins emphasized, “We will have the world run on American technology,” while noting that all SEC divisions are now mobilized to achieve this goal. The project is being implemented in line with the President’s Working Group on Digital Assets (PWG) report and laws such as the GENIUS Act.

What is Project Crypto?

1. Clear Regulatory Framework for Crypto Distributions: Project Crypto aims to establish a clear regulatory framework for crypto asset distributions in the U.S. The SEC will issue guidelines to help determine whether a crypto asset is a security, commodity, stablecoin, or another type of digital asset. Classification as a security is designed to be flexible, supporting product design and investor participation rather than hindering innovation.

2. Freedom in Custody and Trading Venue Selection: The SEC will ensure that market participants can decide where and how to custody their crypto assets. Custody requirements for registered intermediaries will be modernized, and a competitive custody services market will be promoted.

3. Market Competition and “Super-Apps”: Project Crypto envisions a regulatory environment where trading platforms and intermediaries can offer both security and non-security products under a single license structure. Following PWG recommendations, SEC and CFTC coordination will increase competition and liquidity while reducing duplicative regulatory burdens.

4. On-Chain Innovation and DeFi Support: The SEC will create regulatory space for decentralized (DeFi) protocols and automated market makers (AMM). Practical and reasonable rules for on-chain systems will facilitate the trading of tokenized securities and other digital assets in the U.S. market.

5. Innovation Exemptions and Commercial Viability: The SEC is exploring an “innovation exemption” to allow new business models and technologies to quickly enter the market, ensuring that regulations do not stifle innovation or drive businesses offshore.

Project Crypto marks the beginning of a new era in digital asset regulation in the U.S. By supporting on-chain markets, promoting innovation, and providing clear rules, the SEC aims to make America the leader in the global digital finance revolution. Market participants should prepare for a more dynamic, competitive, and innovation-friendly regulatory environment.

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