The US SEC launches Project Crypto to promote the on-chain financial market

The U.S. Securities and Exchange Commission (SEC) has launched Project Crypto, an initiative aimed at modernizing securities regulations and enabling the on-chainization of U.S. financial markets.

This initiative aims to promote the on-chainization of U.S. financial markets and support President Trump's vision of making the United States a "global crypto hub."

The initiative will focus on bringing crypto asset issuance back to the United States, establishing clear and concise rules for the issuance, custody, and trading of crypto assets, and updating existing regulations to accommodate on-chain software systems.

Atkins stated that the initiative will also allow market participants to innovate through "super apps," offering a variety of products and services under a one-stop, single license, and explore innovative exemptions to encourage emerging business models.