Overview

• Speaking in Wyoming, Chair Paul Atkins said the SEC will end regulation by enforcement and “embrace innovation” in its approach to digital assets.
• Under Project Crypto, the SEC plans tailored disclosures, exemptions and safe harbors for offerings such as ICOs, airdrops and network rewards.
• Atkins argued that token status turns on how an asset is packaged and sold rather than the token itself, marking a break from Gary Gensler’s stance.
• He said the Commission is moving to implement the President’s Working Group roadmap, which envisions shared oversight with the CFTC based on token characteristics.
• Lawmakers advanced the CLARITY Act in July and senators have signaled possible bipartisan support for broader market-structure legislation, so the final framework will depend on forthcoming rules and any new statutes.