According to Deep Tide TechFlow, on July 31, 2025, Paul S. Atkins, Chairman of the U.S. Securities and Exchange Commission (SEC), delivered a speech in Washington, announcing the launch of the 'Project Crypto' reform initiative. This initiative covers multiple directions including the classification and issuance of crypto assets, support for tokenization, revisions of custody and trading rules, coexistence trading of securities and non-securities, access to super-app platforms, compliance pathways for DeFi, and innovative exemption mechanisms, aiming to lay the institutional foundation for advancing the United States as a global crypto capital.

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