The American Securities and Exchange (SEC) commission launched a major initiative to establish a clear and modern regulatory framework for cryptographic assets, prioritization of regulatory clarity, investor protection and market innovation (1). The President of the SEC, Paul Atkins, underlined the need for reforms at the federal level that align with the rapid evolution of blockchain technology and the broader objective of positioning the United States as a world leader in cryptographic industry (1). The initiative, named “Project Crypto”, was announced at the end of July and is a direct response to the President’s Working Group Report (PWG) on the digital asset markets (2).
A central objective of the project is to develop clear and enforceable standards to determine whether a digital asset is considered a guarantee, a decision which aims to reduce legal uncertainties and provide marketable actors (1). This concentration on clarity is part of a wider strategy to support innovation in the cryptography sector while ensuring that investors remain protected. The SEC also highlighted the importance of the rights of the auto-custody, President Atkins describing it as a “basic American value”, signaling a more accommodating position in decentralized finance (DEFI) and non-intermediate models (1).
As part of the Crypto project, the SEC explores the development of “super -application” platforms – crypto which can offer a range of services, including non -security assets, under a single regulatory license. This approach aims to simplify compliance with financial services providers and reduce the regulatory charges of states and federals (1). The initiative also includes efforts to modernize obsolete rules in order to allow the transparent integration of ONCHAIN systems into traditional securities markets (1).
The Cry crypto working group directs the initiative, Commissioner Hester Peirce playing a key role. Atkins indicated that the agency can adopt flexible regulatory exemptions and adaptive executives to avoid stifling innovation (1). This strategy combines with recent legislative efforts, such as the adoption of the Act on Engineering, which aims to remove the obstacles to innovation from digital assets (1).
The broader federal context reinforces the importance of the initiative. The actions of the SEC within the framework of the Crypto project comply with the vision of the White House to make the United States the “capital of the cryptography of the world” (2). This alignment suggests a coordinated effort among federal agencies to create an environment of support for innovation of digital assets (1).
By approaching the complexities of the regulation of cryptography while promoting technological progress, the initiative of the SEC represents a central step towards the establishment of a balanced and prospective regulatory landscape for digital assets in the United States (1).
Source:
(1) Project Crypto: dry launches bold plan to make America the blockchain capital (https://concentral.com/project-crypto-sec-lanches-bold-plan-to–make-america–blockchain-papital/)
(2) Declaration on the president’s working group (
