- SEC shifts focus from litigation to proactive crypto rulemaking efforts.
- Ripple case resolution opens door for clearer digital asset regulations.
- Project Crypto aims to modernize outdated rules for investor protection.
According to recent remarks on Fox Business, SEC Chairman Paul Atkins confirmed that multiple agency divisions are being mobilized to position the United States as a global leader in cryptocurrency. This is in line with Project Crypto, an effort to modernize regulations to keep pace with the rapidly evolving digital asset market.
Atkins observed that the recent enactment of the GENIUS Act, a central stablecoin bill, was a critical step. He further stated that other crypto-related bills are under consideration in Congress, and he believes that more legislative action will be taken.
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Shifting Toward a More Supportive Regulatory Climate
Since taking over from former Chair Gary Gensler in April, Atkins has stressed the need for more precise guidance for innovators. He added that the regulatory agencies had been taking inconsistent stands, thus leaving lawyers unable to provide conclusive advice to clients. He continued by saying that the SEC is trying to turn that around.
Digital asset custody was also one of his priorities. He believes that the rules written almost a hundred years ago must be changed so that investor-held assets can be stored safely. According to him, these changes are critical to developing trust in the market.
Commissioner Hester Peirce has also emphasized that the SEC already has enough power to make a serious move in crypto without the new laws. She believes that significant improvements can be made within the current structures.
Ripple Case Resolution Fuels Push for Clear Rules
The conclusion of the SEC’s high-profile lawsuit against Ripple has reinforced calls for stronger crypto regulations. Peirce was pleased by the decision, as it relieved the agencies of resources to concentrate on creating clear rules. According to her, regulatory certainty is paramount to businesses and investors.
Atkins publicly supported her opinion, saying that the case’s ending offers a chance to draft rules that will safeguard investors and enhance innovation. Both officials indicated that future actions may include public consultation, cooperation with other regulators, and more contact with the crypto industry.
The introduction of Project Crypto and the conclusion of the Ripple case are turning points in the SEC’s attitude toward digital assets. With legislative efforts underway and internal reforms progressing, the agency is moving toward a regulatory framework that balances innovation with strong investor protections.
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