Paul Atkins, Chair of the U.S. Securities and Exchange Commission, delivered a keynote address at the OECD Roundtable on Global Financial Markets in Paris, unveiling an expanded vision for Project Crypto focused on regulatory clarity and innovation. In contrast to the enforcement-driven approach of prior decades, this initiative aims to consolidate multiple activities—issuance, custody, trading, staking, and lending—under a single, unified licensing framework. Atkins emphasized that tokens, when not deemed securities, must benefit from clear definitions and guidelines, ensuring that entrepreneurs can raise capital without endless legal uncertainty. Custody rules are set to be updated, enabling both intermediaries and investors to choose among various qualified custodial solutions, while bright-line standards will determine precisely when digital assets qualify as securities, utility tokens, or stablecoins.
The policy framework includes proposals to permit tokenized securities trading on national exchanges and alternative trading systems, paving the way for seamless integration of blockchain-based assets into traditional financial markets. Atkins further highlighted the importance of on-chain market infrastructure, underscoring plans to support agentic finance—autonomous AI-driven trading and management systems embedded with compliance protocols. With investor protection as a cornerstone, the SEC will implement notice-and-comment rulemaking to invite industry and public input, marking a shift from ad hoc enforcement toward collaborative regulation. This strategy is designed to maintain market integrity, prevent fraud, and foster an environment where financial innovation can flourish domestically, reinforcing the United States as a global leader in blockchain technology and digital asset markets.
Comments (0)