SEC Chair Paul Atkins to Unveil “Project Crypto”
SEC’s Paul Atkins launches "Project Crypto" to modernize U.S. digital asset rules, aiming to make America a global crypto hub.
Quick Take
Summary is AI generated, newsroom reviewed.
Project Crypto is a bold SEC initiative to modernize digital asset regulation.
Paul Atkins aims to treat most tokens as non-securities, reducing enforcement pressure.
The move aligns with pro-crypto White House policies, boosting market sentiment.
Bitcoin’s surge to near-record highs reflects investor confidence in the new regulatory direction.
Paul Atkins, the 34 th SEC Chairman to be sworn in in April 2025, will speak on the topic of Project Crypto at 8.30 a. m. ET today. The effort was first announced on Sept. 31 by a Washington think tank in hopes of reworking old securities regulation to make it fit digital assets and turning the U.S. into the world leader in crypto innovation. Atkins also underlined and underscored that, almost all crypto assets are not securities and indeed a radical change in the regulatory stance has occurred. It has nine Commission-wide initiatives to modernise asset classification, trading, custody and licensing simplification of so-called super-apps that provide a range of financial services.
A Modern Framework for Digital Assets
The notable has to do with the timing of the announcement where it came after a broad-based crypto policy push in the White House in line with the various executive orders of President Trump to include digital assets on 401(k) retirement plans, which attracted billions in institutional inflows. Bitcoin shot back up to nearly $122,300, closing in on its recent highs in the process, meanwhile, cryptocurrency stocks rose as optimism spread throughout the markets.
Atkins has a reformist background to the post. A past SEC commissioner in the early 2000s, he was a co-leader of the reforms in corporate governance, and the founder of a regulatory consulting firm. He has presented a tangible policy change over the hard line law enforcement policies of his predecessor by the attempt to engage and cooperate with the crypto community as opposed to confront it.
Paul Atkins’ Reformist Legacy
A former SEC commissioner in the early 2000s, Atkins has pushed corporate governance reforms in his background. At a later date, he established a regulatory consultancy, where he cooperated extensively with financial innovators. His management philosophy focuses on cooperating with the industry with the goal of achieving the balance between investor protection and technological progress, which has the potential to become a key to the SEC mission in the global crypto space.
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