U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins has announced the launch of the "Project Crypto" initiative that is meant to modernize cryptocurrency regulation.
The commission-wide initiative will enable U.S. financial markets to move on-chain.
The aim of the project is to make sure that the U.S. retains its leadership when it comes to capital markets and bleeding-edge technologies.
Atkins has specifically stressed that the SEC will "reshore" those businesses that moved out of the U.S. due to regulatory uncertainty.
Undoubtedly, the new initiative further legitimizes the nascent asset class, which has so far had a banner year.
You: “crypto is a scam”
— Nate Geraci (@NateGeraci) July 31, 2025
SEC Chairman: launching “project crypto” to “modernize the securities rules & regulations to enable America’s financial markets to move on-chain”
You’re surely paying attention now, right? pic.twitter.com/jvQr335Gyl
Most crypto assets are not securities
Chairman Atkins has also clarified that the majority of financial assets are, in fact, not unregistered securities.
As reported by U.Today, Gary Gensler, Atkins's predecessor, argued that the opposite was the case.
