The U.S. Securities and Exchange Commission (SEC) is accelerating its crypto policy agenda, with Chairman Paul Atkins saying the agency is taking “historic steps” to modernize financial markets and support President Donald Trump’s vision of making the United States the “crypto capital of the world.”
Project Crypto to Move Markets On-Chain
Speaking at The Economic Club of New York, Atkins said the SEC has spent the past year implementing Project Crypto, an initiative designed to modernize regulations for blockchain-based financial markets.
“We are taking historic steps to modernize our rules and regulations to facilitate markets moving on-chain,” Atkins said.
Atkins said the SEC has provided long-awaited regulatory clarity for digital asset issuers, allowing entrepreneurs and investors to determine whether a crypto asset falls under the agency’s jurisdiction before launching a project.
He stressed that clear regulation benefits everyone, not just the crypto industry.
“This is not a favor to the industry. It’s what markets require to function—clear rules of the road applied without preference.” He said
SEC and CFTC Join Forces
Atkins also highlighted a new Memorandum of Understanding (MoU) between the SEC and the Commodity Futures Trading Commission (CFTC), describing it as a major step toward ending years of fragmented oversight of digital assets.
“We’re aligning key definitions, coordinating oversight, and replacing a regulatory no-man’s land with fertile new ground for innovation to grow,” He said.
The partnership could become even more significant if the CLARITY Act is enacted, as the legislation would establish clearer regulatory responsibilities for the SEC and CFTC in overseeing digital assets.
SEC Wants to Rebuild Industry Trust
The SEC’s shift in approach extends beyond Atkins.
Brian Daly, head of the SEC’s Division of Investment Management, acknowledged that the agency mishandled its approach to crypto in previous years.
He said the agency is now trying to rebuild trust while creating a more predictable process for the nearly 200 ETF applications it receives every month, including crypto ETFs and prediction-market products.
However, several SEC initiatives, including tokenization exemptions, remain vulnerable to legal challenges because they rely on agency guidance rather than legislation.
