SEC Chairperson Paul Atkins outlined Project Crypto’s roadmap speaking at a television interview on Friday, August 15. He said that the SEC is planning to mobilize various sectors to “encompass the crypto assets”. These sectors include corporate finance and investment management among others.
The U.S. is actively reassessing its policies to provide clarity to the participants of the crypto market. Atkins said, the SEC plans against standing by and watching other nations lead in innovations.
He emphasized that the recently released discussion paper from the President’s Working Group (PWG) gave direction to the SEC in order to fulfil Donald Trump’s vision of transforming the U.S. as the crypto capital of the planet.
Many from the crypto industry expressed optimism on the SEC’s changing outlook to support the crypto industry.
Earlier this month, President Trump allowed 401(k) retirement plans to invest in alternative assets including crypto.
Referring to this historic change Atkins said, “The number of public companies now is half of what it was… 30 years ago… you need to approach things with a diversification goal in mind. Don’t put all your eggs in one basket.”
As part of the introductory statement on Project Crypto, Atkins had said that the initiative would be SEC’s “north star” in making the U.S. equipped with crypto-friendly policies.
Under the programme, the SEC wishes to reshore crypto businesses that fled the country under unclear crypto policies.