SEC Implements New Blockchain Rules without Congressional Approval

The Securities and Exchange Commission (SEC) has launched a bold initiative to regulate blockchain technologies, bypassing congressional approval through its ‘Project Crypto’ project. This move signifies a shift towards proactive rulemaking focused on adapting US securities regulations for the digital asset era. SEC Chair Paul Atkins explained that existing authority will be utilized to create clear rules, with a focus on market readiness while maintaining investor protection principles. This initiative aims to modernize US markets and foster innovation in the rapidly evolving cryptocurrency landscape.