US SEC Chair Paul Atkins announced that most crypto tokens are not securities and proposed a new regulatory framework for crypto activities like trading and staking. The SEC’s Project Crypto aims to modernize securities regulations to support blockchain-based financial markets. The President’s Working Group on Digital Asset Markets has delivered a blueprint to achieve this goal.

The SEC is considering allowing platforms to operate as “super-apps” to facilitate trading, lending, and staking of digital assets under one regulatory umbrella. SEC Chair Atkins believes in providing effective regulation to protect investors without burdening entrepreneurs with unnecessary rules. He praised the EU’s Markets in Crypto-Assets framework and called for international cooperation to foster innovative markets.

The European Banking Authority finalized rules requiring EU-based banks to hold more capital against unbacked cryptocurrencies like Bitcoin and Ether. These rules categorize Bitcoin as “Group 2b” with a 1,250% risk weight, mandating a significant capital buffer. This conservative approach contrasts with the US allowing banks to engage in crypto activities and Switzerland updating DLT laws to support crypto custody.

Read more at Cointelegraph: Most Crypto Tokens Aren’t Securities, Pitches Unified Rulebook