Today, at the OECD Roundtable in Paris, SEC Chairman Paul S. Atkins doubled down on Project Crypto, promising that regulators will stop relying on enforcement actions and instead deliver clear, predictable rules for token classification, on-chain capital raising, and unified “super-app” platforms.
Key Takeaways:
- Most crypto tokens aren’t securities, Atkins said, signifying a major shift in what kinds of digital assets the SEC plans to regulate as securities.
- Vision for super-app platforms unveiled: trading, lending, staking bundled under a single regulatory license, with multiple custody options allowed.
- SEC under Project Crypto will enable on-chain capital raises under clearer rules, reducing legal uncertainty for innovators.
At the inaugural OECD Roundtable on Global Financial Markets in Paris, SEC Chair Paul S. Atkins delivered a keynote address that laid out fresh details for Project Crypto, the initiative to modernize U.S. securities regulation around crypto assets.
Atkins emphasized that ad hoc enforcement will no longer serve as the main tool for setting policy. Instead, the SEC will push for regulation through formal rulemaking and clear guidelines. Among his major announcements: most tokens will not be treated as securities. He also made clear support for platforms that combine multiple services. specifically trading, lending, and staking, operating under a unified or “super‐app” regulatory structure.
He revisited key themes from the President’s Working Group on Digital Asset Markets report, saying that its recommendations form a “bold blueprint” that Project Crypto will implement. He called for regulatory minimalism where possible, offering what is necessary to protect investors, but avoiding overregulation that stifles innovation.
SEC Chair: “Most Tokens Aren’t Securities”
Atkins pointed to the SEC’s Project Crypto and emphasized on that one of its goals is to offer certainty around the security status of crypto assets.
Most crypto tokens are not securities, and we will draw the lines clearly… we must ensure that entrepreneurs can raise capital on-chain without endless legal uncertainty. And we must allow for ‘super-app’ trading platform innovation that increases choice for market participants. Atkins noted on his speech.
Bitcoin, Ethereum Post Modest Gains After SEC Update
As of this writing (10:15 AM UTC), Bitcoin (BTC) is trading at approximately $113,940, logging a modest gain of 1.5% over the past 24 hours while securing intraday highs near $114,451 and lows around $112,205. On the other hand, Ethereum (ETH) goes along the market uptrend, sitting around $4,422.20, a 2.1% gain in the day while seeing intraday highs around $4,444.79 and lows near $4,305.60.
No dramatic surge has followed the speech so far both BTC and ETH are experiencing modest gains. It appears the market is cautiously optimistic, viewing Atkins’ remarks as aligning with expectations rather than unexpected surprises.
New Rules Could Reshape Token Issuance and Super-Apps
Atkins’ announcement suggests that Project Crypto could ease the path for token issuers and platforms by clarifying that most digital assets are not securities, opening the door for more compliant token launches and on-chain fundraising. The push for “super-app” licensing, where trading, lending, and staking operate under one regulatory umbrella, along with clearer custody rules, could streamline compliance and attract new investment, though the full impact will depend on how quickly and clearly the SEC formalizes these proposals.
What’s Next
Project Crypto marks a shift from enforcement-driven oversight to clearer rules, giving the crypto industry cautious optimism about a more innovation-friendly U.S. market. Still, the real test will come when the SEC releases concrete proposals on token classification, custody, and “super-app” licensing, as the scope and speed of these rules will determine whether the initiative sparks growth or simply reshapes existing uncertainties.
Summary
SEC Chair Paul S. Atkins used the OECD Roundtable in Paris to outline Project Crypto, a major regulatory initiative aimed at replacing ad hoc enforcement with clearer rules for the crypto industry. Atkins emphasized that most tokens will not be considered securities, removing a long-standing source of legal uncertainty. The initiative also envisions super-app platforms that combine trading, lending, and staking under a unified license. Additionally, clearer frameworks for on-chain fundraising and custody rules are expected. Markets responded cautiously, with BTC trading near $113,940 and ETH around $4,422, posting modest gains.
