The U.S. Securities and Exchange Commission (SEC) has announced a transformative regulatory initiative known as “Project Crypto,” aimed at modernizing securities laws to position the United States as a global leader in cryptocurrency and blockchain innovation. SEC Chair Paul Atkins emphasized that the U.S. is at a pivotal moment in financial history, akin to the early days of the New York Stock Exchange and the rise of electronic trading. The initiative is a strategic response to President Trump’s vision of making the U.S. the “crypto capital of the world” [1].

A key objective of Project Crypto is to clarify the classification of crypto assets, with Atkins asserting that most are not securities. This approach seeks to reduce…