Project Crypto is the SEC’s plan to create a single regulatory framework for trading, lending and staking digital assets, clarifying that most tokens are not securities while enabling “super-app” platforms to operate under unified rules. It aims to replace ad hoc enforcement with predictable regulation.
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Unified framework for trading, lending and staking under Project Crypto
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SEC Chair Paul Atkins said most crypto tokens are not securities and called for clearer, predictable rules.
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Project Crypto aligns U.S. policy with international steps like the EU’s MiCA and seeks global cooperation.
Project Crypto: SEC proposes a single regulatory framework for trading, lending and staking digital assets — read the summary and next steps for platforms.
SEC Chair Paul Atkins unveiled Project Crypto, proposing one regulatory framework to govern trading, lending and staking of digital assets while asserting that most crypto tokens are not securities.
US Securities and Exchange Commission (SEC) Chair Paul Atkins announced Project Crypto in a keynote at an OECD Roundtable in Paris, framing it as a shift from enforcement-driven policy to a predictable, principle-based regulatory approach.
“It is a new day at the SEC,” Atkins said, adding that the agency will move away from ad hoc enforcement and toward clear rules designed so innovators can thrive in the United States.
Paul Atkins gives remarks on Project Crypto. Source: SEC
What is Project Crypto and what does it change?
Project Crypto is the SEC’s proposal to modernize securities regulation for blockchain-based financial markets by creating a single regulatory framework that covers trading, lending and staking. The initiative clarifies that most tokens are not securities while enabling platforms to offer multiple services under one compliance regime.
How will Project Crypto affect crypto platforms and “super-apps”?
The SEC’s approach opens the door for platforms to become regulated “super-apps” that can simultaneously provide trading, lending and staking. Atkins emphasized the need for minimal effective regulation to protect investors without overburdening entrepreneurs.
Under this model, platforms would be able to offer diverse custody solutions and bundled services under a single regulatory umbrella, reducing duplicate compliance costs and enabling smaller innovators to compete.
Why did the SEC reference international frameworks like MiCA?
Atkins praised the European Union’s Markets in Crypto-Assets (MiCA) as a comprehensive digital assets regime. He said U.S. regulators can learn from international steps to harmonize rules and facilitate cross-border cooperation. This international context also reflects wider regulatory moves, such as the European Banking Authority’s proposed risk weights for unbacked crypto.
When will Project Crypto take effect and what’s next?
The SEC described Project Crypto as a multi-stage effort. Next steps include drafting rule changes, seeking stakeholder input and coordinating with other agencies. The timeline depends on internal rulemaking and potential congressional or inter-agency reviews.
Frequently Asked Questions
Will Project Crypto reclassify major tokens like Bitcoin or Ether as securities?
SEC Chair Paul Atkins said most crypto tokens are not securities. Project Crypto aims to clarify classifications rather than broadly reclassify major decentralized tokens such as Bitcoin or Ether.
Can a single platform legally offer trading, lending and staking?
Yes. Project Crypto is explicitly designed to allow platforms to operate as regulated “super-apps” that provide multiple services under one compliance framework, subject to required investor protections and custody rules.
Key Takeaways
- Unified regulation: Project Crypto proposes a single framework for trading, lending and staking to reduce fragmented enforcement.
- Token clarity: The SEC signaled most tokens are not securities, aiming for clearer classification guidance.
- Super-apps enabled: Platforms can operate multi-service offerings under one compliance program, lowering duplication and fostering competition.
Conclusion
Project Crypto signals a shift at the SEC toward predictable, principles-based regulation that seeks to clarify token status and enable platforms to provide trading, lending and staking under a unified regime. Market participants should begin assessing token classifications and consolidating compliance to prepare for forthcoming rule changes. Watch for formal rule proposals and stakeholder consultations in the coming months.
Publication date: 2025-09-10. Updated: 2025-09-10. Author: COINOTAG.
