SEC Chairman Atkins Declares Most Crypto Assets Are Not Securities, Unveils ’Project Crypto’

WASHINGTON, D.C. — Securities and Exchange Commission (SEC) Chairman Paul Atkins unveiled "Project Crypto," a sweeping initiative to modernize securities regulations for blockchain-based assets. The MOVE marks a stark departure from the Gensler-era stance that most cryptocurrencies qualify as securities.

"Despite what the SEC has said in the past, most crypto assets are not securities," Atkins declared at the America First Policy Institute. The new framework will focus on creating clear rules for crypto distributions, custody, and trading while preventing "archaic regulations" from stifling innovation.

The announcement follows Wednesday's WHITE House Working Group report urging crypto policy updates. Atkins directed staff to draft new regulations for public comment, with interim measures planned to bridge the regulatory gap.