Commission of securities President Paul S. Atkins Announced Thursday, July 31, the launch of “Project Crypto”, an initiative on the scale of the dry to modernize the rules and regulations on securities to allow the financial markets of the United States to move in chain.
In a speech Delivered Thursday at America First Policy Institute in Washington, DC, Atkins said The project will be the contribution of the agency to President Donald Trump’s efforts to make the United States the “capital of the cryptographic world”.
“Project Crypto will help ensure that the United States remains the best place in the world to start a business, develop advanced technologies and participate in the capital markets,” said Atkins. “We are reshaping the cryptographic companies that fled our country, in particular those that have been paralyzed by the regulatory crusade of the previous administration and”Chokepoint 2.0 operation. ‘”
As part of the initiative, the SEC staff will write rules for distributions of cryptographic assets, custody and trade for public opinion and comments; THE Dry will to use Interpretative, exempt and other authorities to remove “archaic rules and regulations»» And dry “Will reorganize his book of rules”.
By comparing the “digital asset revolution” to previous advances in capital markets such as Trust Trust and Compensation for Clearing Corporation, the Acception Machine and Alternative Regulatory Trading Systems, Atkins said that the United States had to make more than track the pace of the last revolution.
“We have to drive it,” he said.
“While we are advancing these priorities, I can’t wait to work with my counterparts through the administration to make the United States the world capital of cryptography,” said Atkins. “This represents more than a change in regulation – it is a generational opportunity.”
The speech one day came after the White House released a long report on Digital asset policy developed by the President’s working group on digital asset markets.
This group was trained by January 23 executive decree and responsible for developing a federal regulatory framework governing digital assets and considering the creation of “national storage of digital assets”.
In its report, the working group wrote that “a large part of the industry’s corporate infrastructure has migrated to offshore to avoid the unfavorable regulatory environment. This approach almost eliminated the opportunity for the United States to lead in this revolutionary technology … ”
