U.S. SEC and CFTC Launch ‘Project Crypto’... “Removing Regulatory Uncertainty”

Paul Atkins, chair of the U.S. Securities and Exchange Commission (SEC), and Selig, chair of the Commodity Futures Trading Commission (CFTC), announced the official launch of “Project Crypto” through a joint op-ed outlining the Donald Trump administration’s policy vision for virtual assets (cryptocurrencies).

In a joint statement on the 29th (local time), the two chairs said, “The reason U.S. financial markets are the best in the world is clear rules and fair enforcement. But the previous administration impeded innovation with enforcement-first actions chasing flashy headlines and opaque regulation.” They added, “Under President Trump’s leadership, financial regulators are returning to the core principles that once made our markets the envy of the world.”

Unveiled the same day, “Project Crypto” is a joint policy initiative by the two top regulators to overhaul U.S. markets for the digital age. It is designed to support digital-asset legislation being advanced on a bipartisan basis in Congress, while also filling in the granular regulatory clarity that legislation alone cannot address through disciplined enforcement.

“The goal of financial regulation should not be punitive, but precise,” the two said, adding, “Rather than forcing outdated frameworks that do not fit new technological realities, we will adapt flexibly to technological change and focus on addressing real risks.” To that end, they set out key tasks including: ▲developing a regulatory implementation roadmap ▲creating clear entry pathways for compliance participants ▲modernizing supervisory tools to reflect on-chain activity.

They also strongly signaled an end to siloed regulation between agencies. “Fragmentation—where economically similar activities are treated differently due to jurisdictional issues—limits innovation and undermines investment opportunities,” they said. “In on-chain markets where trading, clearing, settlement and custody are integrated, we will remove duplicative or conflicting requirements to strengthen market resilience.”

They also underscored concern about global competition. “If we fail to provide clarity, innovation will move offshore,” they said, warning that “excessive regulation does not reduce risk—it increases it.” They added, “The future of finance will be built somewhere, and through Project Crypto we will ensure that future is built right here in the United States, under rules that protect investors and promote innovation.”