#ProjectCrypto #ProjectCrypto

Contrast with the Gensler Era

- Previous Approach: Aggressive enforcement (e.g., lawsuits against Coinbase, Gemini) and treating most crypto as unregistered securities.

- New Direction: Pro-innovation stance, with SEC Commissioner Hester Peirce ("Crypto Mom") leading a Crypto Task Force to draft rules.

Criticisms and Challenges

- Consumer advocates warn of potential fraud risks (e.g., FTX-like collapses) due to relaxed oversight.

- Congressional hurdles: The Senate has yet to pass crypto market structure legislation, despite House progress.

Market Impact

- July 2025 rally: Anticipation of Project Crypto may have driven Bitcoin and Ethereum to near all-time highs.

- Institutional adoption*: BlackRock’s Larry Fink endorsed tokenization as a "technological revolution" .