#ProjectCrypto On Thursday, Securities and Exchange Commission chair Paul Atkins delivered an address signaling a new era for the top regulator. After the SEC spent years combating the blockchain industry through enforcement actions, the newly appointed Atkins announced an initiative dubbed “Project Crypto” that will turn the U.S. into the “crypto capital of the world.”
Atkins’ speech comes just a day after the White House released a 166-page report outlining its own approach to regulating the crypto industry, and just over three months into his tenure leading the top financial regulator. Atkins has repeatedly signaled he plans to take a markedly different approach to crypto regulation than his predecessor, Gary Gensler, who was widely reviled by the industry.
In his Thursday address, Atkins laid out a series of priorities for SEC staff, including drafting “clear and simple rules of the road” for different crypto behavior, including custody and trading, as well as allowing intermediaries like exchanges to become “super-apps” that offer a broad range of services.
Atkins’ speech on Thursday reflected the most explicit overview to-date of the agency’s new approach. It comes as crypto dominates the headlines, with Bitcoin reaching record highs and Fortune 500 companies exploring blockchain projects.