SEC Chair Aktins calls to ‘reshore crypto’

SEC Chair Paul Atkins has called for a "reshoring" of crypto businesses that had previously fled the U.S., as part of a broader initiative called "Project Crypto."

This new effort aims to modernize securities rules to accommodate crypto assets, simplify regulations, and create a clear framework for crypto asset distributions, custody, and buying/ selling with the goal of making America the leading place for crypto innovation and business development.

Atkins emphasized reversing the regulatory enforcement approach of the prior administration, which he said crippled many crypto companies and drove them offshore. He intends to draft simple rules that encourage crypto firms to return and innovate in the U.S., including allowing multiple services and asset types under single licenses and supporting innovations like tokenized securities.

This policy shift reflects a marked change from previous SEC leadership and aligns with President Trump’s goal of making the U.S. the "crypto capital of the world".

Key points include:

• "Project Crypto" to create modern, clear regulations for crypto assets.

• Reshoring crypto companies that left due to past regulatory actions.

• Protecting self-custody rights for personal crypto wallets.

• Enabling platforms to offer a broad range of crypto services under single licenses ("super-apps").

• Proposals for purpose-fit disclosures, exemptions, and safe harbors for crypto securities like ICOs and airdrops.

• Encouragement of tokenization of securities by U.S. firms.

Atkins stressed that most crypto assets are not securities, deviating from previous SEC stances, and wants to overhaul rules to prevent outdated regulations from stifling innovation.

This initiative signals a new, industry-friendly era in U.S. crypto regulation designed to reverse the withdrawal of companies and boost domestic crypto activity.

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