Overview

• Speaking in Jackson Hole, Atkins called it “a new day” for crypto oversight and said the SEC will not return to regulation by enforcement.
• Project Crypto will introduce purpose-fit disclosures, exemptions, and safe harbors for offerings such as ICOs, airdrops, and network rewards.
• Atkins argued that only a small subset of tokens are securities, with treatment depending on how assets are packaged and sold.
• The shift follows the President’s Working Group framework that envisions shared oversight, with the CFTC taking commodity-like tokens and the SEC handling securities.
• Congress is advancing parallel market-structure legislation, as the House passed the CLARITY Act in July and Senate leaders signaled plans to expand it after recess, with Chair Tim Scott citing growing bipartisan support.