SEC Chair Paul Atkins has announced a sweeping initiative to align every division of the agency toward the goal of transforming the United States into the leading global hub for cryptocurrency regulation and innovation.
Key Developments
- Full-Scale Coordination
All SEC divisions—from Corporation Finance to Investment Management—are being brought together under a program called Project Crypto, aimed at modernizing outdated financial rules to better accommodate the digital asset sector.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 The goal is to replace outdated practices with clear, investor-friendly guidelines.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.
Why It Matters
This move signals a major shift in the SEC’s approach—from a primarily enforcement-driven stance to one focused on proactive policy development. By mobilizing all divisions, the SEC aims to both keep pace with rapid technological advancements and solidify America’s leadership in blockchain and cryptocurrency markets.
