SEC Chair Paul Atkins: Project Crypto and on-chain capital market reforms

Source: The Crypto Times
Published: May 29, 2026
Ingested: 2026-06-02T10:12:01Z

SEC Chairman Paul Atkins outlined a broad shift in US securities regulation, signaling changes to crypto oversight, IPO requirements, and corporate disclosure rules.

Project Crypto: Joint SEC-CFTC initiative to adapt securities rules for blockchain-based markets and tokenized financial assets.

Four rulemaking tracks (May 8, 2026):

1. Exchange definition for on-chain trading systems (DEXs, AMMs)
2. Broker-dealer treatment for on-chain trades
3. Clearing agency treatment for blockchain settlement
4. Crypto vaults — regulated custody solutions

Reg Crypto / Token Safe Harbor (Mar 17, 2026):

• Token taxonomy: digital commodities, collectibles, tools, and payment stablecoins (under GENIUS Act) are NOT securities
• Only digital securities (tokenized traditional securities) remain under securities laws
• Startup exemption: up to $5M, 4-year runway
• Fundraising exemption: up to $75M per 12 months
• Investment contract safe harbor: rule-based standard for when a crypto asset ceases to be a security

Timeline: Proposed rules not yet published. Notice-and-comment typically 12-18 months.