Washington D.C. – Securities and Exchange Commission (SEC) Chair Paul S. Atkins delivered a landmark speech on July 31, 2025, at the America First Policy Institute, outlining a comprehensive initiative to transition U.S. capital markets onto blockchain technology. The address, which Atkins titled "Project Crypto," aims to modernize the financial system and establish the United States as the global leader in digital asset innovation. Faryar Shirzad, a prominent figure, lauded the speech, stating in a tweet, > "Extraordinary speech by @SECPaulSAtkins. Hard to imagine a more visionary speech on the opportunity our country has to move capital markets activities onchain and update the financial system."
"Project Crypto" is a Commission-wide endeavor designed to update securities rules and regulations to facilitate the onchain movement of financial markets. Chair Atkins emphasized that this initiative is central to President Trump's vision of making America the "crypto capital of the world." The program seeks to create a clear regulatory framework, moving away from an enforcement-first approach to one based on established rules.
Atkins highlighted the transformative potential of onchain securities, which could remodel aspects of the securities market by enabling novel methods of issuing, trading, owning, and using financial instruments. He noted that blockchain technology promises new use cases for securities, fostering market activities not currently contemplated by legacy regulations. This shift is expected to enhance capital formation by transforming illiquid assets into liquid investment opportunities.
Industry leaders have reacted positively to Atkins' announcement, signaling a significant shift in regulatory tone. Miller Whitehouse-Levine, CEO of the Solana Policy Institute, remarked, "I’m absolutely blown away by the breadth of the ambition of the agenda laid out in Chair Atkins’ speech. Project Crypto, led by the SEC, is going to revolutionize financial markets generally, and ensure that the US remains at the forefront of Internet Capital Markets." This regulatory clarity is anticipated to increase institutional confidence and drive liquidity into digital asset markets.
The initiative also aims to bring crypto asset distributions back to America, addressing previous concerns over offshore corporate structures and regulatory uncertainty. Atkins, who previously served as an SEC Commissioner from 2002 to 2008, has consistently advocated for reduced regulatory burdens and promoted financial innovation. His current chairmanship prioritizes developing a rational regulatory framework for crypto asset markets, ensuring clear guidelines for issuance, custody, and trading.