#ProjectCrypto "Crypto Project" will be a guiding star for the SEC in assisting President Trump, whose efforts are aimed at making America the "crypto capital of the world," said Atkins.

A day before Atkins' announcement, the White House published a 166-page report with recommendations for regulation, indicating that the administration of U.S. President Donald Trump intends to usher in a "golden age of cryptocurrencies." Among the proposals from the group is a call for Congress to pass the Digital Asset Market Transparency Act (CLARITY Act), which has been passed by the House of Representatives but not yet by the Senate. The document aims to address gaps in regulatory oversight by giving the U.S. Commodity Futures Trading Commission (CFTC) control over spot markets for digital assets that are not securities.

"Under my leadership, the commission will encourage developers in our country rather than limit them with bureaucracy and rules," said Atkins.