The US crypto market is on the verge of major changes. The new SEC chairman, Paul Atkins, has officially announced the launch of an initiative called Project Crypto — a program that aims not just to reform oversight of digital assets, but to turn the United States into a global hub of blockchain innovation.

A new approach to regulation

After years of confrontation between the SEC and the crypto industry under previous leadership, the regulator is now shifting course. The new priority is development, not suppression of technology. Project Crypto proposes a structural rethinking of regulation, in which:

• the SEC will oversee assets that meet the definition of securities
• the CFTC will gain more authority over digital commodities
• developers will have more room to test new solutions
• licensing will become more flexible and technology-neutral

Special attention is being given to transparency and predictability of the rules to reduce regulatory risk for market participants.

What Project Crypto includes

The SEC has identified several key focus areas it will work on in the near future:

• bringing crypto companies back to the US by easing market access
• supporting startups by creating “regulatory sandboxes”
• introducing tokenization of traditional assets, including stocks, bonds, and funds
• developing custody standards and compliance with KYC/AML norms
• lifting excessive restrictions for ICO and airdrop projects

These initiatives are aimed not only at modernization but also at removing legal uncertainty that has long held back the US crypto market.

Who is against it and why

Despite support from the industry, the SEC’s new course is facing a wave of criticism. Opponents of the project — primarily members of the Democratic Party — accuse the administration of being overly lenient toward the crypto sector and potentially benefiting companies with political ties. The CLARITY and GENIUS bills have drawn criticism for providing insufficient investor protection and favoring insiders.

Particular concern has been raised about the provisions allowing exemptions for certain tokens and relaxed licensing requirements, which critics see as a threat to market stability and consumer rights.

What it means for the industry

Project Crypto opens up new opportunities, especially for those working in infrastructure, asset tokenization, and DeFi. Companies will be able to launch products faster and with lower regulatory overhead, while users will interact with services more safely, without fear of sanctions or blocks. Retail investors will benefit from clearer rules and stronger protections against manipulation, while institutional players will gain a solid legal foundation for large-scale investments.

Although Project Crypto is still in the implementation phase, one thing is clear — this is not a short-term initiative. Regulators aim to build a long-term strategy based on collaboration with the industry, not confrontation. In the coming months, final versions of the legislation are expected to be debated in the Senate, along with the launch of pilot projects in asset tokenization. For the crypto market, this is a chance to enter a new phase — more mature, more scalable, and less vulnerable to political risk