The U.S. Securities and Exchange Commission published opening remarks by Chairman Paul S. Atkins announcing that Project Crypto will proceed as a joint initiative with the Commodity Futures Trading Commission to coordinate and align the agencies’ approach to crypto asset market regulation, against the backdrop of Congress moving closer to bipartisan market structure legislation. Project Crypto is framed as a response to market activities that cut across traditional regulatory lines, with an emphasis on reducing regulatory friction and harmonizing standards and definitions where appropriate across trading, clearing, custody, and risk management. Atkins also pointed to recent SEC staff efforts to provide greater clarity on digital assets, including Division of Corporation Finance statements on the securities status of memecoins, stablecoins, mining, and staking; Trading and Markets FAQs on broker-dealer financial responsibility and transfer agent obligations; and Investment Management staff views on maintaining crypto assets with certain state-chartered financial institutions. The initiative is positioned as a preparatory coordination mechanism so the SEC and CFTC can implement any new legislative framework with clearer guidance and more consistent standards once Congress acts.

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