The U.S. Securities and Exchange Commission (SEC) has launched Project Crypto, aimed at reforming digital asset regulation in the country. The initiative, led by SEC Chairman Paul Atkins and supported by the Trump administration, seeks to position the U.S. as a global leader in the crypto economy.
Clear Rules for the Crypto Market
Project Crypto will be implemented based on the recommendations of the Presidential Task Force on Digital Markets. The plan involves updating regulations, removing legal uncertainty, and fostering Web3 innovation. The SEC aims to develop clear criteria for classifying digital tokens—such as securities, digital goods, collectible assets, or stablecoins—to facilitate compliance for both the agency and market participants.
> "I have directed the Commission staff to draft clear and simple rules of the road for crypto asset distributions, custody, and trading for public notice and comment," said Atkins.
Freedom of Choice and Superapps
The SEC also plans to broaden options for crypto custody and trading, including the recognition of users’ rights to self-custody their digital assets in personal wallets. Additionally, Project Crypto is exploring the integration of 'superapps'—platforms that allow trading of cryptocurrencies, tokens, traditional securities, and more under a single license.
> "Nothing in the federal securities laws prohibits SEC-registered trading venues from listing non-securities on their platforms today, and I have directed the Commission staff to develop further guidance and proposals ultimately to make this 'super-app' vision a reality," noted Atkins.
Embracing DeFi and New Business Models
To support crypto innovation, the SEC is looking to adapt rules for both centralized and decentralized models, including DeFi protocols and automated market makers. An 'innovation exception' is under discussion, proposing that new products be launched with fewer regulatory hurdles if core standards are met. Atkins emphasized the need to focus on practical viability—a departure from rigid adherence to legacy frameworks.
Project Crypto builds on the recent GENIUS Act, which set the foundation for stablecoin regulation, and new digital markets legislation is anticipated by 2025. The SEC assures stakeholders that the incoming regulations will not confine the industry but instead unlock the full potential of U.S. digital markets.
Project Crypto from the SEC represents a significant step toward reforming digital asset regulation in the U.S., supporting the country's ambition to become a global leader in the crypto economy. The implementation of new rules and initiatives offers hope to market participants and underlines the necessary changes in the digital technology landscape.
