- Paul Atkins’ Project Crypto aims to modernize SEC rules for digital assets, covering token issuance, stablecoins, and blockchain services.
- The SEC plans to revamp outdated custody laws, align all divisions on crypto oversight, and build on legislative momentum from the GENIUS Act.
- Atkins highlighted instant settlement, cautious market access expansion, and readiness for major capital market events as part of the broader vision.
SEC Commissioner Paul Atkins has taken center stage with Project Crypto, an initiative designed to explore fresh regulatory frameworks for the fast-moving world of digital assets. His goal? Strike a balance between protecting investors, fostering innovation, and making sure the U.S. doesn’t fall behind in blockchain adoption. Atkins stressed that token issuance, stablecoins, and blockchain-based services need updated rules that can integrate with existing securities laws without stifling growth.
A Nationwide Effort to Modernize Regulations
Atkins made it clear the SEC is mobilizing all divisions—Corporation Finance, Investment Management, and more—to ensure crypto-related activities fall under clear, consistent guidelines. He described the recent GENIUS Act as a strong legislative step and hinted at further progress once Congress returns from recess. Custody rules, some nearly a century old, are also on the table for overhaul, aiming to ensure crypto assets are securely stored and legally compliant, especially when held for investors.
Payments, Markets, and Expanding Access
The Commissioner also linked crypto’s potential to wider payment reforms, pointing to instant settlement systems like FedNow as game-changers for market efficiency. On market access, he welcomed a recent policy shift allowing retirement plans to invest in crypto and private equity but emphasized the need for strong guardrails to protect investors. And in a broader financial context, Atkins noted the SEC stands ready to assist if the administration proceeds with major moves like a $30+ billion IPO for Fannie Mae and Freddie Mac.
