SEC Debuts 'Project Crypto' To Bring US Financial Markets 'On Chain' (cnbc.com)
- Reference: 0178528064
- News link: https://slashdot.org/story/25/07/31/2220225/sec-debuts-project-crypto-to-bring-us-financial-markets-on-chain
- Source link: https://www.cnbc.com/2025/07/31/sec-debuts-project-crypto-to-bring-us-financial-markets-on-chain.html
"To achieve President Trump's vision of making America the crypto capital of the world, the SEC must holistically consider the potential benefits and risks of moving our markets from an off-chain environment to an on-chain one," SEC chair Paul Atkins said at the "American Leadership in the Digital Finance Revolution" conference on Thursday. "I have directed the Commission staff to update antiquated agency rules and regulations to unleash the potential of on-chain software systems in our securities markets ... Federal securities laws have always assumed the involvement of intermediaries that require regulation, but this does not mean that we should interpose intermediaries for the sake of forcing intermediation where the markets can function without them." CNBC reports:
> Atkins, the SEC chair, highlighted "super apps" (such as one Coinbase [3]introduced two weeks ago) as a priority of his chairmanship, noting the need to allow the apps to thrive with an "efficient licensing structure," rather than subject to multiple regulatory authorities.
>
> So-called super apps like WeChat and Alipay -- which bundle several different services and functionalities into a single mobile app -- have long been viewed as the holy grail of financial technology by the industry. They're central to everyday life in China but haven't been successfully replicated in the West. Meta Platforms and X have made attempts to realize that vision, integrating payments, messaging and social content, among other functions.
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> Atkins also said the Trump administration will work to prevent "innovative" companies from being driven offshore by burdensome regulations, and said the SEC "will encourage our nation's builders rather than constrain them with red tape and one-size-fits-all rules."
[1] https://www.sec.gov/newsroom/speeches-statements/atkins-digital-finance-revolution-073125
[2] https://www.cnbc.com/2025/07/31/sec-debuts-project-crypto-to-bring-us-financial-markets-on-chain.html
[3] https://www.base.org/
Cryptocurrency is for CRIME! (Score:5, Informative)
Just so we are clear. The purpose of Crypto is work around financial reporting requirements and transfer $$$ anonymously and to distabilize national currencies.
There is a reason Cybercriminals use it for Ransomware!
Can you make $$$ scaming others or using for ransom drops, drug sales or money laundrying. Absolutely!
That the US Govt is now participating in these schemes only shows how corrupt it has become.
A great way to learn about crypto and many of the illegal transactions it allows is this book: [1]The Number Go Up! [wikipedia.org]
[1] https://en.wikipedia.org/wiki/Number_Go_Up
Re: (Score:1)
The people most opposed to crypto now where traditionally the people that were most in favor of liberalizing or legalizing drugs.
Re: (Score:1)
Interested in why this is "troll" comment. Crypto and DNMs have allowed people to acquire drugs in a much safer venue than buying them from dealers on the street.
Re: (Score:3)
Ummm. An illicit drug store on the dark web is certainly safer for the seller. But not for purchaser/user, as there is no guarantee that "the product" will be as advertised or that even fake drugs will be delivered to the purchaser.
The [1]"Silk Road" [wikipedia.org] is not a good business model for purchasers. It is a good model for the illicit drug sellers, and a great model for the marketplace platform provider whose getting a commission on every sale whether or not the product is as represented or ever delivered.
At least u
[1] https://en.wikipedia.org/wiki/Silk_Road_(marketplace)
Re: (Score:2)
> the real master plan of crypto.
No, it isn't. There is no "master plan" for crypto. Its just greedy humans buying something in the hopes they can find a "greater fool" they can sell it to at a higher price. The evidence is they can and there is not a lot of reason to think that will change.
2008 called (Score:2)
It wants to personally thank President Trump for giving them another chance.
Re: (Score:2)
If you had invested in a manged fund heavy on tech in 2006 you'd be doing even better.
Re: (Score:2, Informative)
If you bought $45k of Trumpcoin in January, you would have $910 today!
Re:Crypto is the future (Score:5, Funny)
If you bought a million it comes with a free pardon!
Hindsight is good at picking winners (Score:4, Funny)
If I had $1 in NVDA on Jan 2006, it would be worth over US $550 today.
If I had $1 in GM in 2006, it would be worth $0 today (pinklisted in 2009)
If I spent $2 on the numbers for Powerball back in 2022, it would be worth US $2 BILLION today!
Re: (Score:3)
You have only made any money once you sold it. Otherwise the wheel is still in spin.