Paul Atkins Unveils ’Project Crypto’ – A Bold Plan to Cement U.S. Dominance in Global Blockchain Race

Wall Street veteran Paul Atkins drops a crypto bombshell—Project Crypto aims to catapult the U.S. past regulatory inertia and into blockchain leadership. No more playing catch-up.

The Regulatory End-Run

Atkins’ blueprint bypasses bureaucratic gridlock by leveraging private-sector momentum—think DeFi partnerships, institutional adoption, and sandbox-friendly policies. Because waiting for Congress to ‘understand Web3’ isn’t a strategy.

Why This Matters Now

With China’s CBDC rollout and the EU’s MiCA framework already in motion, the U.S. risks becoming a blockchain backwater. Project Crypto’s pitch? Turn NY and SF into the new Zug and Singapore—just with better coffee and worse public transport.

The Cynical Kick

Of course, this being finance, expect a few ‘advisory roles’ for ex-SEC officials. Some things never change—even in decentralization.

SEC Moves to Modernize 90-Year-Old Rules

The SEC confirmed that it is mobilizing all departments to implement guidance from the President’s Working Group on Digital Assets. The group’s recommendations offer a clear structure for integrating crypto within the national financial framework. The SEC aims to prevent innovation from shifting overseas by ensuring U.S. competitiveness in the blockchain sector.

📃 "PROJECT CRYPTO" Details Revealed by @SECPaulSAtkins on @MorningsMaria

-Focusing on making America the crypto capital of the world
-Clarity and Genius Act to guide policies and regulations
-Other 'bills' being considered at the moment
-Custody beyond a flash drive in a… https://t.co/AVykkQUXM1 pic.twitter.com/nwxYGpxouy

— alibynx (@alibynx) August 15, 2025

Project Crypto intends to revise financial regulations written nearly a century ago to accommodate today’s digital realities. It prioritizes secure storage of digital assets and responsible transaction practices across broker-dealers and asset managers. This MOVE signals a major shift in how the agency will govern digital currencies going forward.

Chairman Atkins emphasized that digital assets must meet the same standards as traditional securities, including legal custody and transaction transparency. The SEC plans to enforce standards that ensure cryptocurrencies are not handled informally or insecurely. This approach reflects a firm commitment to rule-based integration of crypto in the financial sector.

GENIUS Act Provides Legal Basis for Regulatory Framework

The SEC will structure its new digital asset rules around existing legislation, such as the GENIUS Act. This law provides the foundation for restructuring market regulations to accommodate digital innovation. By aligning with laws already passed by Congress, the SEC aims to avoid legal uncertainty.

Atkins linked these updates to wider financial reforms, including expanding asset classes in retirement portfolios like 401(k)s. A recent executive order allows these plans to include alternative assets, such as crypto and private equity. This change could boost participation in digital markets through more accessible financial products.

In addition, the SEC welcomed a court ruling that struck down the Durbin debit interchange rule, viewing it as a boost to new payment systems. This development could open the door for wider adoption of crypto in daily financial transactions, adding momentum to the SEC’s broader mission of supporting alternative payments.

Project Crypto Aims to Establish U.S. as Blockchain Leader

Project Crypto reflects a broader national strategy to reclaim leadership in financial technology and blockchain innovation. With fewer public companies and growing global competition, the SEC wants to position the U.S. as a hub for crypto development. This includes regulatory clarity and competitiveness in digital finance.

The SEC is working to ensure that digital assets are not sidelined but are brought into regulated, secure financial practices. It plans to create a balanced framework that promotes innovation while enforcing consistent oversight. This shift marks one of the most significant updates in the agency’s recent history.

Chairman Atkins reinforced that this project is not temporary, but a strategic effort to embed blockchain into the U.S. financial system. The SEC will continue updating laws and launching new policies to meet evolving demands. With Project Crypto, the agency signals a strong push to lead the global digital economy.