US regulators launched an ambitious #ProjectCrypto : key details.
Chairman of the US Securities and Exchange Commission (SEC) Paul Atkins announced the launch of the 'Crypto Project', which will radically change the approach to regulating the cryptocurrency market. The goal is to turn the US into a global center for the crypto industry.
The 'Crypto Project' will serve as the foundation for implementing the ambitions of President Donald Trump, who aims to make America the 'crypto capital of the world,' Atkins noted. The new SEC strategy is aimed at supporting innovation and removing bureaucratic barriers for blockchain technology developers.
On the eve of the announcement, the White House presented a 166-page report with recommendations for regulating the crypto market. Among them is the proposal to adopt the CLARITY Act, which has already been approved by the House of Representatives but is awaiting a Senate decision. The law will clarify the powers of regulators, transferring control over the spot markets of digital assets not classified as securities to the Commodity Futures Trading Commission (CFTC).
'We will stimulate the development of the crypto industry in the US, rather than stifle it with excessive rules,' Atkins emphasized.
