US SEC launches 'Project Crypto'… "Roadmap for tokenization and RWA regulation era"

The US Securities and Exchange Commission (SEC) has officially started to implement the regulatory blueprint 'Project Crypto' aimed at making the country a global hub for virtual assets (cryptocurrencies).

According to cryptocurrency-focused media The Cryptonomist on the 16th (local time), Paul Atkins, SEC Commissioner, recently stated in a Fox News interview, "We are mobilizing all SEC departments to put into action the roadmap suggested in the presidential task force report." This approach, unlike the 'regulation by enforcement' of the Joe Biden administration, is described as being focused on fostering the virtual asset industry.

The core of the previously unveiled 'Project Crypto' includes ▲establishing clear criteria to classify tokens as securities, commodities, or stablecoins ▲modernizing rules related to distribution, custody, and trading ▲introducing regulations and exemptions for new businesses such as ICOs and airdrops ▲allowing 'super apps' that integrate trading, staking, and lending, etc. Additionally, the SEC is expected to promote the return of innovation companies to the US through stock market tokenization, on-chain system integration, and expand private equity fund access for individual investors.

Meanwhile, the US central bank, the Fed, recently announced the termination of the 'Novel Activities Supervision Program', which separately monitored banks’ fintech and virtual asset businesses, shifting to a more general supervisory framework. This move is broadly considered as regulatory easing and is expected to accelerate the inflow of institutional funds.

The media added, "The market expects Bitcoin (BTC) and Ethereum (ETH) to be the biggest beneficiaries," and "mid-sized altcoins such as Chainlink (LINK), Ondo (ONDO), Injective (INJ), and Sei (SEI) are also being highlighted as beneficiaries of tokenization and Real World Asset (RWA) trends."