In a landmark announcement, SEC Chairman Paul Atkins has introduced “Project Crypto”—a sweeping regulatory initiative designed to bring the U.S. securities markets onto blockchain rails. The program, directly informed by this week’s White House digital asset report, seeks to modernize financial regulations and strengthen the United States’ competitive position in the global crypto economy.
Speaking at the America First Policy Institute in Washington D.C., Atkins outlined a multi-pronged approach. The SEC will focus on incentivizing the repatriation of crypto assets, enhancing custody solutions, and updating legal frameworks to support on-chain software systems. “We stand on the brink of a new era for our capital markets,” Atkins declared, highlighting the collaboration with the recently signed GENIUS Act and the President’s Working Group recommendations.
Clear Rules, Custody Reform, and the Age of Super-Apps
Atkins has directed SEC staff to draft clear and actionable rules for the distribution, custody, and trading of crypto assets. In the interim, exemptions and regulatory relief are on the table. He notably stated that “most crypto-assets are not securities,” pledging to deliver guidelines that enable market participants to categorize digital assets appropriately.
The chairman further addressed the evolving standards for asset custody, affirming that “the right to self-custody private property is a core American value,” while recognizing that many investors will continue to rely on regulated intermediaries.
A central pillar of Project Crypto is the enablement of “super-apps”—integrated digital platforms allowing brokers to provide a suite of products and services under a single regulatory license. This innovation would allow for seamless trading in both securities and cryptocurrencies, and the offering of services such as staking and lending, all without requiring multiple licenses.