SEC Launches President’s Digital Assets Group to Reform Crypto Regulation

The Securities and Exchange Commission (SEC) is shifting its approach to cryptocurrency regulation under Chair Paul Atkins. The SEC will establish the President’s Digital Assets Group, aimed at implementing recommendations from the President's Digital Asset Markets Working Group.

Key Points

The new initiative, termed “Project Crypto,” will prioritize regulatory clarity over enforcement actions.
Atkins emphasized creating flexible rules that protect investors while fostering innovation.
This approach contrasts with former chair Gary Gensler’s stance, which classified most tokens as securities.
Atkins noted that only a few tokens meet the securities definition, depending on their marketing and sale methods.
The SEC plans to offer exemptions and tailored disclosure standards for crypto companies, moving away from a "one-size-fits-all" policy.
Regulatory changes could facilitate operations for crypto projects in the US, especially regarding ICOs, airdrops, and decentralized apps.
The SEC aims for consistent policies aligned with international standards through collaboration with Congress and other agencies.

This new direction is part of a broader push for transparent digital asset policies by the current administration.