Breaking: SEC Launches 'Project Crypto'

U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins has announced the launch of the "Project Crypto" initiative that is meant to modernize cryptocurrency regulation

The commission-wide initiative will enable U.S. financial markets to move on-chain

The aim of the project is to make sure that the U.S. retains its leadership when it comes to capital markets and bleeding-edge technologies

Atkins has specifically stressed that the SEC will "reshore" those businesses that moved out of the U.S. due to regulatory uncertainty

Undoubtedly, the new initiative further legitimizes the nascent asset class, which has so far had a banner year.

Most crypto assets are not securities

Chairman Atkins has also clarified that the majority of financial assets are, in fact, not unregistered securities

As reported by U.Today, Gary Gensler, Atkins's predecessor, argued that the opposite was the case