The SEC announces “Crypto Project”, the initiative to regulate cryptocurrencies in the US

The United States Stock Exchange and Securities Commission(SEC, for its acronym in English) took a significant turn in its focus to the cryptoactive market. This Thursday, its president, Paul Atkinsannounced the launch of the “Crypto Project” (Project Crypto)an initiative aimed at modernizing the regulations of capital markets to adapt them to new technologies, such as Blockchain and the cryptocurrencies.

During a public presentation, Atkins indicated that the normative reform will be based on the recommendations of the White House Working Groupwhich urged the regulatory agencies to use their current powers to facilitate federal trade of digital assets.

“Many of the inherited rules of the SC make sense in the 21st century and much less for the ‘on-chain’ markets. We must renew them to prevent them from becoming pits that hinder progress and competition,” Atkins said.

The head of the agency said that its objective is Align to the vision of President Donald Trump to transform the US into the World Capital of cryptocurrencies. To do this, the regulator will seek to develop a comprehensive regulatory framework that contemplates so much The benefits such as risks of the passage of the “off-chain” markets to the “on-chain”.

Clear rules and new flexibilities

Atkins announced that he instructed the SEC staff to write Clear and simple standards on emission, custody and negotiation of cryptoactive. While the new regulation is formally processed, the SEC will apply its Interpretive and Exemption Authority to provide greater flexibility to emitters, exchange platforms and crypto ecosystem actors.

One of the most outstanding proposals is to allow joint negotiation of cryptoactive that are values and those that are notwhich would require a change of approach to the traditional separation between values and commodities.

Also, Atkins said the SC considers:

• Flexible and unify licenses For crypto service providers.

• Establish Regulatory exemptions For projects in initial stages or public tokens offers.

• Recognize the right to self -ustody of digital assets.

• Discourage the creation of DAO structures only to avoid regulations.

A change of look expected by the industry

Different analysts agree that the new Atkins approach responds to historical claims of the sector. In contrast to his predecessor, Gary Genslerwho tried to regulate cryptocurrencies by applying the existing legal framework, ATKINS is presented as a favorable official to a Comprehensive reform.

Already in May, the SEC had given a signal by publishing a guide that excludes income from Staking In type “proof-of-stake” type of the securities regime. More recently, the organism Authorized processes of creation and redemption in kind for Bitcoin and Ethereum ETFs in cashwhich allows large institutional investors to operate directly with digital assets without going through fiduciary currency.

This mechanism is considered more efficient and safe, since it reduces operational friction and allows to adjust the supply of real -time participations according to market demand.

Legislative and Disputes advances

In parallel, the US congress advances in the approval of a series of key laws for the digital ecosystem. The Genius lawthat regulates Stablecoinsit was already signed by President Trump and became law. Currently, the Senate debates the Clarity Law (“Clarity Act”) and the Law against surveillance by CBDCwhich prohibits the State from issuing a Central Bank digital currency.

Nevertheless, The explicit support of the White House to the crypto sector has generated questions. Several observers warned about possible conflicts of interest, due to the president’s participation and his family in projects such as Memecoins and Digital Assets platforms. The White House denied any type of personal benefit of the president in relation to these activities.