#btc# ETh#pi

Paul Atkins, the chairman of the U.S. Securities and Exchange Commission (SEC), announced the launch of "Project Crypto."
Aimed at comprehensively reforming the existing regulatory framework to accommodate crypto assets and promote the "on-chain" transformation of the U.S. financial markets.
Previously, the White House's Digital Asset Market Working Group released a report suggesting the establishment of a regulatory framework, and Trump also signed a bill regulating crypto stablecoins and promoted the passage of related framework legislation.
Atkins pointed out that many legacy rules are no longer applicable to the current and "on-chain" markets, and the SEC will draft clear rules and consider using various authorities to avoid stifling innovation.
The 5 major reform directions for the SEC to promote the "on-chain" financial market are as follows:
1. End regulatory uncertainty: Establish a regulatory framework for the issuance of crypto assets in the United States, set clear classification standards, establish dedicated mechanisms for projects that meet the nature of securities, and look forward to new use cases for crypto asset securities, such as "tokenized stocks."
2. Support for diversified custody and trading platforms: support self-custody wallets, reform related rules, and establish more applicable regulations for registered institutions to custody crypto assets.
3. Promote the emergence of "super apps": Collaborate with other regulatory agencies to establish an effective licensing structure that allows non-securities crypto assets and crypto asset securities to trade concurrently on the SEC regulatory platform, and explore the possibility of trading non-securities crypto assets on unregistered trading venues.
4. Promote the "on-chain" of the U.S. financial market: support the operation of decentralized financial systems, revise relevant rules to support tokenized securities trading on-chain, and encourage the development of purely software-based financial service systems.
5. Change the regulatory logic and provide "innovation exemptions": Allow new business models that do not fully comply with existing rules to enter the market temporarily, provided they adhere to the core principles of U.S. securities law.