‘Project Crypto’ Aims to Bring Digital Finance Back to the U.S., Says Bernstein
The U.S. Securities and Exchange Commission (SEC) has unveiled Project Crypto, a sweeping regulatory initiative, which according to Bernstein, is designed to bring blockchain-based innovation back to U.S. markets.
Announced in a Thursday speech by Commissioner Paul Atkins, the project seeks to modernize capital markets for the digital age—positioning the U.S. as a global leader in crypto finance.
Analysts at Bernstein, led by Gautam Chhugani, describe the project as a direct reversal of previous SEC policies under Gary Gensler. Atkins argued that most crypto assets should not be classified as securities, and that outdated reliance on the Howey Test has hindered capital formation and driven startups offshore.
