The SEC has unveiled “Project Crypto,” a new initiative to modernize securities regulations for blockchain-based activity and transition U.S. financial markets on-chain. The initiative aims to clarify the legal status of tokens, support domestic token distributions, issue guidance for asset tokenization, and update custody rules. It also plans to enable side-by-side trading of securities and non-securities and explore regulatory exemptions for testing new DeFi and on-chain models.

https://www.sec.gov/newsroom/speeches-statements/atkins-digital-finance-revolution-073125