Securities and Exchange Commission Chair Paul Atkins announced a deregulation blitz called “Project Crypto” to integrate traditional financial markets with blockchain technology and create financial “super-apps.” The plan aims to move markets from off-chain to on-chain environments. Atkins’ speech followed the Working Group on Digital Asset Markets’ report to make the US the “crypto capital of the world.” New guidelines will clarify which crypto assets qualify as securities. Atkins also proposed purpose-fit disclosures and exemptions for initial coin offerings, airdrops, and network rewards, aiming to make it easier to issue traditional securities on blockchains. Other proposals include allowing financial firms to offer a broad range of products and services under one license, tweaking SEC guidelines for DeFi, and considering an “innovation exemption” for new technologies and business models.

Read more at Yahoo Finance: SEC Chair announces ‘Project Crypto’ deregulation blitz