SEC Chairman Paul S. Atkins makes no effort to hide his disapproval of the approach to digital assets taken by his predecessors at the SEC. He has wholeheartedly embraced the Trump administration’s desire to bring the digital asset ecosystem into the mainstream. In 2025, Atkins announced the SEC’s Project Crypto initiative, saying it will serve as the agency’s “north star in aiding President Trump in his historic efforts to make America the ‘crypto capital of the world.’” Atkins, together with Commissioner Hester M. Peirce, who leads the SEC’s Crypto Task Force, have been developing a plan for “crypto market primacy.” On November 12, 2025, Atkins gave a speech at the Federal Reserve Bank of Philadelphia in which he provided additional details on Project Crypto and the SEC’s efforts to promote U.S. leadership in digital finance. Project Crypto “is a commitment to humility about the SEC’s own reach,” he said. The securities laws “were not designed as a universal charter to regulate every novel form of value, digital or otherwise,” he asserted. As usual, the views expressed were his own, not those of the SEC or any of its commissioners. This article distills his remarks. See “NSCP to SEC’s Crypto Task Force: Focus on Clarity, Custody and Coordination” (Nov. 20, 2025).