SEC Chair Paul Atkins has unveiled a new initiative aimed at making the U.S. a leading hub for cryptocurrency regulation and innovation.
Full-Scale Coordination
All SEC divisions—from Corporation Finance to Investment Management—are being unified under a program called Project Crypto. This is aimed at modernizing outdated financial rules to better accommodate the digital asset sector.
Modernizing the Rulebook
The initiative includes updating decades-old regulations, such as custody requirements, to ensure that broker-dealers and asset managers can securely handle crypto transactions. The goal is to replace outdated practices with clear, investor-friendly guidelines.
Collaboration with Lawmakers
While the SEC will act within its own authority, Atkins emphasized that the agency is working closely with Congress to align with broader legislative efforts, including recent acts designed to strengthen regulatory clarity and foster digital innovation.
The SEC's initiative signals a major shift in the agency's approach, aiming to develop proactive policies in response to rapid technological advancements and solidify America's leadership in the blockchain and cryptocurrency markets.
