#ProjectCrypto The SEC launches the 'Crypto Project' to boost the U.S. securities market on-chain

The U.S. Securities and Exchange Commission (SEC) has launched the 'Crypto Project', an effort to update securities regulations for blockchain-based trading.

The effort aims to legitimize tokenized versions of stocks, bonds, and other assets on public blockchains.

SEC Chairman Paul Atkins announced the plan on Thursday, stating that current rules are built around intermediaries that may no longer be necessary.

'Federal securities laws have always assumed the involvement of intermediaries that require regulation, but this does not mean we should interpose intermediaries in order to force intermediation where markets can operate without them,' he said.