#ProjectCrypto The U.S. Securities and Exchange Commission (SEC) has announced a new initiative called "Project Crypto" to modernize securities regulations and position the U.S. as a leader in the crypto economy. Led by Commissioner Hester Peirce, the project aims to establish a clear regulatory framework for crypto asset distributions, custody, and trading. Key goals include providing guidelines for determining if a crypto asset is a security, updating custody rules to support self-custody and third-party custodians, and accommodating on-chain software systems like decentralized finance (DeFi). The initiative marks a shift away from "regulation by enforcement" to a more business-friendly approach, with the goal of bringing crypto asset businesses back to America.