Overview

• Under Project Crypto the SEC is mobilizing all divisions to implement the president’s crypto working group recommendations and update decades-old custody rules for digital assets.
• The agency is examining how broker-dealers, asset managers and investment advisers can securely store and transact cryptocurrencies, rejecting ad-hoc methods like flash drives.
• Atkins said the overhaul will be based on recent congressional legislation such as the GENIUS Act while the SEC asserts its authority to proceed independently of further congressional action.
• The SEC is exploring real-time payment networks and blockchain-based settlement models to speed up transactions and reduce systemic risk.
• Project Crypto will replace enforcement-first tactics with notice-and-comment rulemaking to clarify token classifications, endorse self-custody and support integrated “super-app” platforms.