On July 31, 2025, SEC Chairman Paul Atkins unveiled Project Crypto, which proposes significant changes in cryptocurrency regulation. This event signifies a shift towards a more inclusive and innovation-friendly regulatory style, aimed at restoring America's leadership in the global digital asset arena.
Announcement of Project Crypto
In his keynote speech at the America First Policy Institute event in Washington, Atkins announced the intention to establish clear and business-friendly regulation for the crypto industry, aiming to bring digital assets back to the US market. He outlined a change in the stance of American authorities that focuses on attracting crypto businesses back to the country.
Five Key Priorities of Regulation
Atkins identified five priority areas that the SEC will modernize:
**1. Asset Distribution Framework**: SEC will establish clear guidelines for crypto asset distributions in the US, including ICOs and airdrops. **2. Custody Modernization**: Requirements for crypto custody for registered intermediaries will be reviewed. **3. Self-Custody Rights**: Atkins endorsed the right of citizens to use self-custodial digital wallets. **4. Super-App Innovation**: SEC is exploring the possibility of creating super-apps for convenient access to various financial services. **5. Tokenization Support**: The regulator will promote tokenization of both traditional and new assets.
Global Implications of the New Approach
The implementation of Project Crypto could significantly impact the competitiveness of the US on the international stage. It is important to note that other countries are also forming their regulatory frameworks for crypto assets, which places pressure on the US to offer clear and accessible rules. The success of the project could attract crypto businesses back to the country and strengthen America's position as a leading jurisdiction for innovation in the crypto sphere.
The announcement of Project Crypto marks a pivotal moment in US cryptocurrency regulation. If the SEC can create effective and inclusive rules, it could lead to significant progress in the development of digital assets and restore trust among businesses and investors following a period of strict oversight.
