SEC Chair Paul Atkins Unveils ’Project Crypto’ Framework to Clarify Digital Asset Rules
SEC Chairman Paul Atkins has taken a decisive step toward modernizing U.S. digital asset regulation with 'Project Crypto,' announced at the Philadelphia Fed Fintech Conference. The initiative introduces a clear framework and token taxonomy to distinguish between securities and non-securities—a long-awaited MOVE for market participants.
Atkins signaled a pivotal shift by acknowledging most traded tokens fall outside securities classification. The new rules hinge on two Core principles: tokenized assets retain their legal identity (e.g., a stock remains a stock on-chain), and regulatory treatment depends on economic substance over labels like 'NFT' or 'token.' This approach aims to end years of market uncertainty while maintaining Howey Test compliance.
