Keep pulling the thread on Paul Atkins.
The SEC, under Chairman Paul Atkins and in collaboration with Commissioner Hester Peirce, is launching a commission-wide initiative called Project Crypto.
President Donald Trump has signed the Genius Act into law, which is designed to establish a regulatory framework for stablecoins.
President Donald Trump has endorsed congressional efforts to pass crypto market structure legislation by the end of the year.
The President's Working Group on Digital Asset Markets (PWG) has released a report with recommendations for the SEC and other federal agencies to establish a framework for U.S. dominance in crypto markets.
SEC Chairman Paul Atkins stated that most cryptocurrencies or crypto assets are not securities, reversing the agency's previous public stance.
The SEC staff has been directed to draft clear rules for public comment regarding crypto asset distributions, custody, and trading.
The SEC staff is developing clear guidelines for market participants to determine whether a crypto asset is a security or subject to an investment contract under the Howey test.
The SEC is contemplating an "innovation exemption" to allow companies to launch new business models and services that do not fit within existing regulations.
Project Crypto is intended to be the SEC's guiding initiative to support President Trump's goal of making the United States the crypto capital of the world.
The SEC's policy divisions have been directed to work with a crypto task force led by Commissioner Hester Peirce to develop proposals implementing the PWG report's recommendations.
The SEC staff has been asked to propose purpose-fit disclosures, exemptions, and safe harbors for initial coin offerings (ICOs), airdrops, and network rewards.
Chairman Atkins asserts that the previous administration's policies, including the Special Purpose Broker Dealer Framework, SAB 121, and Operation Chokepoint 2.0, led to a shortage of crypto custodial service providers.