#ProjectCrypto

The SEC launches the 'Crypto Project' to boost the U.S. securities market on-chain

The U.S. Securities and Exchange Commission (SEC) has launched the “Crypto Project,” an effort to update securities regulations for blockchain-based trading.

The effort aims to legitimize tokenized versions of stocks, bonds, and other assets on public blockchains.

SEC Chairman Paul Atkins announced the plan on Thursday, stating that current rules are built around intermediaries that may no longer be necessary.

“Federal securities laws have always assumed the involvement of intermediaries that require regulation, but this does not mean we should interpose intermediaries in order to force intermediation where markets can operate without them,” he said.

This move comes amid growing interest in tokenization from major financial players such as BlackRock and the recent surge in cryptocurrency offerings abroad. It also coincides with a White House-backed report calling for regulatory reform to maintain innovation in cryptocurrencies in the U.S.

Atkins stated that the SEC will also support “super applications” of cryptocurrencies by creating simpler licensing procedures. The Cryptocurrency Working Group of Commissioner Hester Peirce will help implement the initiative.