The U.S. Securities and Exchange Commission (SEC) is launching «Project Crypto,» a plan to turn the United States into the crypto capital of the world, commission chairman Paul Atkins said.
The official added that the project would be a “guiding light” in supporting President Trump in his historic efforts to make America the “crypto capital of the world.”
Paul Atkins has tasked his fellow SEC Commissioner Hester Peirce and her task force to draft proposals based on the recommendations of the President’s Cryptocurrency Task Force. The agency’s staff will work to develop rules for the distribution, storage, and trading of cryptocurrencies, which will be discussed publicly.
To realize President Trump’s vision of making America the crypto capital of the world, the SEC must fully assess the potential benefits and risks of moving our markets from an off-chain to an on-chain environment, Atkins said.
Decentralized finance and other forms of on-chain software systems will become part of our securities markets and will not be stifled by duplicative or unnecessary regulation.
To date, the SEC has already made several important decisions regarding the crypto industry, and plans to ease previous restrictions in the future.