The Securities and Exchange Commission (SEC) has announced a new initiative, ‘Project Crypto’, with the goal of establishing the United States as a leading force in the global cryptocurrency market. The program seeks to foster innovation within the crypto industry by aiming to create clearer regulatory frameworks for digital assets. SEC Chairman Paul S. Atkins unveiled this project on July 31, 2025, marking a shift towards deregulatory approaches. This initiative is directly guided by recommendations from the President’s Working Group Report and aims to streamline regulations around crypto asset distributions, including custodial services and trading of cryptocurrency like Bitcoin and Ether. The SEC expects these changes to bring increased clarity and stability to U.S. cryptocurrency transactions and market practices.