US SEC rolls out ‘Project Crypto’ to rewrite rules for digital assets
The initiative aims to modernize the SEC for 21st-century finance and was formed in response to recent policy recommendations from the White House.
US Securities and Exchange Commission Chair Paul Atkins has announced “Project Crypto,” an initiative to modernize the agency for the digital finance age and establish clear regulations for digital assets in the United States.
Atkins said Project Crypto was in direct response to recommendations in a recent report by the President’s Working Group on Digital Assets.
Atkins proposed easing licensing rules to allow for multiple asset classes or instruments to be offered by brokerages under a single license, while also creating a clear market structure separating commodities, which most cryptocurrencies fall under, from securities.
