The SECURITIES AND EXCHANGE Commission (SEC) of the United States launched a regulatory scanning initiative nicknamed “Project Crypto”, aimed at remodeling the American approach to the regulation of cryptocurrencies. Announced by the president of the SEC, Paul S. Atkins, on August 1, the program represents a strategic pivot of the heavy position of the application of the law under the former president Gary Gensler to that which emphasizes the clarity, innovation and accessibility of investors (1). This marks an important step in the alignment of American regulatory policy on the rapidly evolving cryptography market and the restoration of inner leadership in digital finance.
A central element of the initiative is the approval of the mechanisms of creation and redemption in kind for the products negotiated in exchange for crypto (ETP), including those supported by bitcoin and ether. This decision should reduce commercial costs and improve institutional access to cryptographic markets (2). Atkins stressed that changes “will benefit investors” and will support a pro-market approach, signaling a change towards promoting innovation rather than stifling it. The reforms also comply with the wider objectives of the White House to strengthen America’s competitive advantage in the world landscape of digital finance (3).
The regulatory pivot arrives at a pivotal moment for the cryptographic industry. During the era peopleler, the restrictive posture of the SEC had led a large part of innovation and capital abroad. Now, with a more accommodating position, the United States is looking to reposition itself as a global hub for cryptographic innovation and capital formation. Commissioner Mark Uyeda pleaded for market neutrality, while the presidential working group urged modernization to keep the pace of technological progress (4).
Bitcoin, the largest cryptocurrency by market capitalization, is currently negotiated at $ 115,200.51, with a market capitalization of 2.29 dollars and a dominance of 61.06%. Despite a reduction of 2.60% in the last 24 hours, its 90 -day performances show a gain of 19.22%, suggesting continuous resilience in the midst of regulatory changes (5). Analysts note that market reaction will depend on continuous clarity and the consistency of the new regulatory framework.
The change of the SEC also includes an emphasis on the consolidation of cryptography regulations at the level of the State in a unified federal system, reducing fragmentation and improving the confidence of investors. The initiative supports the development of “super-applies”, platforms that integrate a range of financial services under a single regulatory umbrella, potentially rationalizing the user experience for retail and institutional investors (6).
By coordinating with the Commodity Futures Trading Commission (CFTC), the SEC aims to minimize regulatory arbitration and provide clearer advice to market players. This collaboration is considered a necessary step in the wider effort to harmonize surveillance and ensure a playground for all activities related to crypto (7).
The success of Project Crypto will depend on its execution and its balance of equilibrium innovation with the protection of investors. While the United States seeks to recover its leadership in the global cryptography space, the initiative could have long-term implications for market structure, institutional participation and technological development.
(1) Title: American Leadership in the Digital Finance Revolution, (https://www.sec.gov/newsroom/speeches-statements/atkins-digital-finance-revolution-073125)
(2) Title: 4 ways in which the new SEC crypto agenda could shake …, (https://www.marketwatch.com/story/Secs-atkins-launches-launject-crypto-to-bing-us-markets-on-chain-heres-what-you-should-know-30958653)
(3) Title: The SEC approves creations and redemptions in kind for crypto …, (https://www.gtlaw-financialservicesObserver.com/2025/07/sec-approves-in-kind-creations-and-redembles-for-for-etps/)
(4) Title: SEC reveals a major revision of the crypto with the White House …, (https://www.ainvest.com/news/sec-unveils-major-crypto-overhaul-white-house-backed-reformmes-2508/)
(5) Title: US Securities Regulator presents scanning plans at …, (https://www.reuters.com/sustainability/boards-policy-regulation/us-securities- regulation-lays-out-sweep-pans-accommodate-crypto-2025-07-31/)
(6) Title: The Trump administration unveils the first framework for regulating cryptography, ((
