Paul Atkins stated
that the “Project Crypto” initiative directly responds to the cryptocurrency policy report released by the White House at the end of July. This report, drafted by the President’s Working Group on Digital Assets, advocates for the establishment of a clear market framework, inter-agency coordination, stablecoin policies, anti-money laundering measures, as well as banking and tax regulations. According to the recommendations in the report, the future oversight of the cryptocurrency industry in the United States will be jointly managed by the SEC and the Commodity Futures Trading Commission (CFTC), with the CFTC taking the lead in regulating the spot market.