US financial regulators are moving towards coordinated oversight of digital asset markets as Congress advances long-awaited crypto market structure legislation.
The Securities and Exchange Commission and the Commodity Futures Trading Commission have launched a joint effort known as Project Crypto to align regulatory standards.
The initiative aims to end fragmented supervision that has created uncertainty for investors, firms, and innovators operating in US crypto markets.
The collaboration comes as bipartisan momentum in Congress brings comprehensive crypto legislation closer to becoming law.
Speaking at the CFTC headquarters, Paul S. Atkins said Congress is nearing a historic decision on market structure reform.
"Of course, as we speak, Congress has never been closer to sending bipartisan market structure legislation to President Trump’s desk. A federal framework for markets that have surged ahead with speed and ingenuity is long overdue. But legislation alone cannot deliver the certainty that investors and market participants deserve,"
Paul S. Atkins said.
Atkins said regulatory certainty requires both statutory reform and disciplined execution by regulators once legislation is enacted.
"That is why I am delighted to have the opportunity to work with Chairman Selig to implement clear and principled rules of the road for crypto asset markets,"
Paul S. Atkins added.
Project Crypto was described as one of the most ambitious cooperative efforts between the SEC and the CFTC in decades.
Atkins said the programme is designed to ensure regulators are prepared to act immediately once Congress finalises the law.
"As a first step, we have designed Project Crypto such that when Congress acts, our agencies are ready to implement any new legislation faithfully and thoughtfully,"
Paul S. Atkins stated.
The SEC chairman highlighted recent staff actions clarifying the regulatory treatment of memecoins, stablecoins, mining, staking, and crypto custody arrangements.
He said these steps reflect a shift towards predictable oversight and constructive engagement with the crypto industry.
Atkins noted that clearer guidance is intended to rebuild confidence among innovators while preserving investor protection and market integrity.
"Moving forward, that means deploying every tool at our disposal to reduce friction, to harmonise standards and definitions where appropriate, and to equip markets with confidence as Congress completes its vital work,”