SEC Chairman Paul Atkins Unveils “Project Crypto” Initiative
Paul Atkins, Chairman of the Securities and Exchange Commission (SEC), made a groundbreaking announcement today with the introduction of the new “Project Crypto” initiative during his speech.
Atkins emphasized the importance of strengthening the United States’ global leadership in the digital assets space and delivered a powerful message in his address.
“We need a project that will ignite American ambition. This is the perfect moment,” Atkins declared, highlighting the need for the US to not only keep up but to lead the digital asset revolution: “America must spearhead this revolution.”
Referencing the President’s recent remarks, Atkins echoed, “Last week, the President expressed his desire for the entire world to operate on the foundation of American technology. I am committed and prepared to make that vision a reality.”
Atkins made it unequivocally clear that the SEC will no longer take a passive stance: “Under my guidance, the SEC will not stand idly by as innovations prosper elsewhere. We will not permit our capital markets to stagnate.”
Furthermore, Atkins disclosed the initial steps for the project, revealing that he has directed the Commission staff to develop “clear and concise regulations” for the issuance, storage, and trading of cryptocurrencies.
The SEC Chairman also clarified that the majority of cryptocurrencies do not fall under the classification of securities.
To conclude, Atkins pledged to streamline bureaucratic obstacles: “During my tenure, the Commission will support, rather than impede, the creators of our nation. We will not hinder entrepreneurship with rigid, one-size-fits-all regulations.”
*Please note that the information provided is not intended as investment advice.