A New Era for Crypto: SEC Chairman Outlines Plans to Boost the Industry

The US Securities and Exchange Commission (SEC) has been making waves in the crypto community with its recent announcement to improve the regulatory climate surrounding the industry. On July 31, SEC Chairman Paul Atkins delivered a 30-minute speech outlining the commission’s plans to support the growth of crypto in the US. Although the markets didn’t immediately react to the news, the crypto community is abuzz with excitement, hailing Atkins’ speech as the “most bullish news for crypto in a decade.”

Project Crypto: A New Initiative

Atkins’ speech, titled “American Leadership in the Digital Finance Revolution,” introduced the concept of “Project Crypto,” a comprehensive program aimed at fostering innovation and entrepreneurship in the US crypto industry. The project’s main objectives include creating a favorable regulatory environment, supporting tokenization, and paving the way for the inclusion of US citizens in crypto activities such as airdrops and ICOs. The SEC also plans to bring together securities and digital assets on regulated platforms, dubbed “super-apps,” to facilitate easier trading and reduce unnecessary intermediation.

Key Components of Project Crypto

The initiative has several key components, including:

• Ensuring that the legal status of crypto in the US facilitates innovation and encourages entrepreneurs to work in the country
• Supporting the tokenization trend and moving various markets on-chain
• Paving the way for the inclusion of US citizens in crypto activities such as airdrops and ICOs
• Bringing together securities and digital assets on regulated platforms, or “super-apps”
• Guaranteeing that innovative companies can continue to operate while regulators adjust the rules to accommodate them

Fighting the Shadows of the Past

Atkins’ speech also addressed the regulatory challenges faced by the crypto industry in the past, particularly during the previous administration. The SEC’s previous chairman, Gary Gensler, had taken a more restrictive approach, equating most cryptocurrencies with unregistered securities and initiating legal battles with key industry players. In contrast, Atkins vowed to create a more attractive regulatory climate, allowing companies that had left the US due to unfavorable regulations to return and thrive.

Addressing Debanking and Regulatory Uncertainty

The SEC Chairman also acknowledged the issue of debanking, where crypto companies were restricted from accessing traditional banking services, and the lack of clear regulatory guidelines. Atkins promised to create a more favorable environment, allowing companies to focus on growth and development rather than navigating complex regulatory hurdles.

Setting New Rules

The SEC plans to implement new rules that will enable crypto companies to operate more freely in the US. Atkins directed the commission staff to draft clear and simple rules for crypto asset distributions, custody, and trading, which will be open to public notice and comment. The SEC will also consider using its authority to exempt companies from archaic rules and regulations that stifle innovation.

Super-Apps and Tokenization

Atkins’ speech also highlighted the concept of “super-apps,” platforms where traditional securities and cryptocurrencies can be traded side-by-side. The SEC Chairman emphasized the importance of tokenization and the integration of securities and non-security assets, allowing for easier trading and reducing unnecessary intermediation. The commission plans to develop further guidance and proposals to make this vision a reality.

Reaction and Future Outlook

Although the crypto market declined the day after Atkins’ speech, the community remains optimistic about the future of the industry. Many experts believe that the SEC’s new approach will pave the way for crypto to become a mainstream asset class and technology over the next 12-24 months. As Hunter Horsley of Bitwise put it, “July 2025 was the end of the beginning for crypto. A new chapter is starting now, and crypto will start to show up everywhere as a mainstream asset class and technology.”