SEC presented a plan to bring the crypto business back to the USA

The news is being updated. The head of the U.S. Securities and Exchange Commission (SEC), Paul Atkins, announced Project Crypto. This is a comprehensive initiative to modernize regulations to turn the country into a "global crypto capital."

The project follows the directives of President Trump and the recommendations of the Working Group on Digital Assets. According to Atkins, the SEC is shifting from a "regulation by enforcement" policy to creating favorable conditions for innovation.

Clear rules for tokens

The key task of the project is to establish clear rules for cryptocurrencies. Atkins stated that most of them are not securities.

The commission will develop guidelines to help companies determine the status of their asset: security, digital commodity, or collectible. This should put an end to the "decentralization theater" and the creation of complex offshore structures.

For financial instruments that are still recognized as securities, the SEC will create an adapted regulatory framework. It will regulate ICOs, airdrops, and staking rewards. The goal is to encourage issuers to consider the interests of American investors rather than sidestepping them.

New Approach to Storage and Trading

Atkins called the right to self-custody of keys a fundamental American value. For custodial services like brokers, the regulator will simplify requirements. This will expand the number of companies that can legally store clients' cryptocurrencies.

The commission will also support the creation of "super apps." Platforms will be able to offer trading in securities, crypto assets, as well as staking and lending services under one license. This will reduce regulatory burdens and enhance competition.

Integration of DeFi and "sandbox"

The agency will update outdated regulations to integrate on-chain systems into financial markets. The rules will create conditions for the operation of decentralized protocols such as automated market makers.

In addition, the SEC plans to launch an "innovation sandbox." This will allow companies to quickly bring new products to market that "do not fit within existing frameworks." Instead of strict regulations, they will need to adhere to general principles aimed at protecting investors.

Atkins emphasized that "the U.S. must not only keep up with the digital asset revolution but lead it."

Recall that the White House Working Group on Digital Asset Markets has published recommendations for regulating the industry.