The post SEC Chair Paul Atkins Unveils Plan to Make U.S. a Global Crypto Leader During ‘Project Crypto’ Speech appeared first on Coinpedia Fintech News
SEC Commissioner Paul Atkins is speaking today about Project Crypto, a new effort focused on shaping clear rules for cryptocurrencies. The talk included ideas on how to handle the launch of new tokens, protect investors, and make sure blockchain technology can work within current financial laws.
SEC is Mobilizing to Update Crypto Rules
The head of the U.S. Securities and Exchange Commission (SEC) said on Friday that the agency is reviewing rules around how digital assets are stored. This includes looking at how broker-dealers, asset managers, and investment advisers can handle cryptocurrency transactions safely and legally.
SEC Chairman Paul Atkins said in a Fox Business exclusive, “It [Project Crypto] is to modernize rules and regulations, enabling America’s financial markets to move on chain and make America the crypto capital of the world. The SEC will not stand by and watch innovations develop overseas, that it’s going to happen here.”
He explained that a few weeks ago, the government released a report from the President’s Working Group on digital assets. The report gave clear recommendations to help move forward and turn the President’s vision for crypto and digital finance into reality.
Atkins said the SEC was bringing together all its departments to carry out the recommendations from President Donald Trump’s crypto working group, with the goal of making the U.S. more welcoming to the crypto industry.
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Atkins explained that this would involve updating rules that have been in place for nearly 90 years. He stressed the importance of properly securing digital assets, saying they shouldn’t just be stored on a flash drive in someone’s drawer. The overall aim, he added, is to create clear and stable regulations so that people know what to expect.
SEC to Base Crypto Rules on GENIUS Act
Atkins said the SEC will build its plans around laws already passed by Congress, including the GENIUS Act and other efforts to update how financial markets are structured.
While discussing payments, Atkins said a recent ruling by a North Dakota judge to strike down the Durbin debit interchange rule could be a positive step for alternative payment methods, including cryptocurrencies.
Atkins also talked about a recent executive order that allows 401(k) retirement plans to invest in things like private equity and crypto. He pointed out that there are now only half as many public companies as there were 30 years ago, and said it’s important to focus on diversification, in other words, not to put all your eggs in one basket.
These statements show a clear change in how the SEC is approaching digital assets. The agency is working to support innovation while still protecting investors. Its focus on keeping the U.S. a leader in the global crypto space points to bigger changes happening across the entire industry.
