Amid a sharp Friday sell-off in markets, the SEC unveiled what Bernstein analysts call “the boldest and most transformative crypto vision ever laid out by a sitting SEC chair.”
What Happened: In a speech titled “Project Crypto,” SEC Chairman Atkins outlined a sweeping reform agenda that reimagines U.S. capital markets around blockchain-native infrastructure and tokenized assets.
According to a note on Aug. 4, the speech challenges decades of regulatory precedent.
“Our regulatory framework need not be anchored to an analog past, unkind to new frontiers,” Atkins said. “The future is arriving at full speed, and the world is not waiting.”
Atkins formally acknowledged that “most crypto assets are not securities,” calling for the SEC to use …