SEC Chair Unveils Project Crypto to Clarify Asset Rules

The chairman of the U.S. Securities and Exchange Commission, Paul Atkins, has outlined a significant shift in the agency's approach to cryptocurrency regulation, aiming to establish clear rules and reverse a trend of industry firms moving overseas. Speaking at the Economic Club of New York on June 30, Atkins detailed an initiative called Project Crypto, which seeks to modernize securities laws for blockchain-based markets and provide long-sought regulatory clarity.

Atkins framed the effort as a direct response to a mandate from the Trump administration to make the United States the global hub for digital asset innovation. He stated that the SEC is moving away from what he described as an era of "regulation by enforcement," where companies often learned the rules only through lawsuits. The new strategy, part of a broader ACT (Advance, Clarify, Transform) framework, aims to define which digital assets are securities, update outdated regulations, and create a predictable environment for businesses and investors.

A central component of the updated approach is increased coordination with the Commodity Futures Trading Commission. The agencies have entered into a Memorandum of...