SEC Introduces Project Crypto to Regulate Digital Assets
The US Securities and Exchange Commission (SEC) is preparing a comprehensive update to the legal framework governing crypto assets, blockchain technology, and digital currencies. SEC Chairman Paul Atkins introduced the new initiative, called “Project Crypto,” to the public, aiming to position the US as a leader in cryptocurrency regulations.
Integrating Traditional Finance with Blockchain
According to Atkins' remarks at a recent event, this initiative focuses on updating financial regulations to integrate the traditional financial system with the on-chain structure. The primary goal is to make US capital markets compatible with digital assets and decentralized finance (DeFi), fostering innovation while ensuring regulatory compliance.
Trump’s Digital Asset Markets Working Group
Atkins highlighted a report by former President Donald Trump's Digital Asset Markets Working Group, which provides recommendations to federal agencies. This report outlines a strategic roadmap to strengthen the US's global leadership in crypto assets and blockchain innovation, positioning the country as a hub for cryptocurrency investment.
Project Crypto: Beyond Technological Transformation
Atkins emphasized that “Project Crypto” is not just a technological transformation but also a strategic move to enhance the US's appeal for global investment and technology development in the cryptocurrency sector.
Atkins stated, “In line with President Trump's vision of making America the center of the crypto world, the SEC will thoroughly examine the transition from an off-chain system to an on-chain structure,” ensuring a comprehensive evaluation of regulatory compliance and financial innovation.
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