SEC Launches “Project Crypto”: A Sweeping Overhaul of US Digital Asset Regulation to Modernize and Reshore the Industry

The article reports that, following the GENIUS Act, the U.S. SEC announced “Project Crypto,” a broad reform initiative to modernize securities regulation for digital assets and DeFi, including a unified “Reg Super-App” licensing framework, revisions to Reg NMS to incorporate on-chain markets, and innovation-friendly compliance measures. Draft rules aligned with PWG recommendations are expected by end of 2025, with the White House framing the move as a strategic pivot to attract crypto talent and capital back to the U.S. while safeguarding market integrity.