• SEC Chair Paul Atkins announces 'Project Crypto,' a plan to overhaul U.S. securities laws for digital assets, declaring most are not securities.
  • The initiative aims to use the SEC’s interpretative powers to foster entrepreneurship and 'reshore' crypto innovation to the U.S.
  • The policy reversal, unveiled last week, marks the boldest regulatory shift for crypto from a sitting SEC chair and could position the U.S. as a global leader in tokenization.

SEC Chair Paul Atkins is set to detail the agency's radical new vision for digital asset regulation today at the Wyoming Blockchain Symposium, hosted by SALT. The presentation will center on 'Project Crypto,' a comprehensive plan unveiled last week that seeks to modernize decades-old U.S. securities regulations to better accommodate the crypto ecosystem.

The initiative represents a sharp reversal from the SEC's previous stance. Central to the plan is the use of the Commission's interpretative and exemptive powers to clarify asset categorizations, with a foundational principle being that most crypto assets do not qualify as securities. This move directly addresses what Atkins has criticized as the confusing and stifling application of the Howey Test to digital assets, which for years has pushed innovation and businesses to more welcoming jurisdictions overseas.

A primary objective, according to people familiar with the matter, is "reshoring"—creating a clear and favorable regulatory climate to attract crypto businesses back to American soil. The plan strongly emphasizes fostering entrepreneurship and enabling the large-scale tokenization of traditional assets like stocks and bonds, a development eagerly awaited by Wall Street firms and major tech companies. Efforts to reach the SEC for additional comment ahead of the symposium were not immediately successful.

Analysts at Bernstein have called the project “the boldest and most transformative crypto vision ever laid out by a sitting SEC chair.” If implementation is successful, the long-term outlook could see the U.S. become the largest global market for tokenized financial assets. The announcement has already drawn significant interest from top executives and policymakers, suggesting a ready market for the new regulatory clarity. The symposium is expected to provide a platform for further stakeholder feedback, which will likely influence the pace and final shape of the rules.