Project Crypto Could Shift XRP Oversight to CFTC, Says SEC's Atkins
Speaking at the Philadelphia Fed Fintech Conference, SEC Chairman Paul Atkins introduced "Project Crypto," an initiative that aims to move substantial oversight authority for some digital assets from the SEC to the CFTC. Atkins flagged that this reallocation could bring tokens like XRP more clearly under commodity-style regulation, altering the enforcement landscape that has long shadowed Ripple and similar firms.
If implemented, Project Crypto could bring faster clarity for exchanges, institutional custodians, and derivatives markets by applying a commodities framework rather than securities law. That said, the proposal would require inter-agency agreements or legislative changes and leaves key details unsettled. Markets and industry participants should watch for follow-up guidance and concrete rulemaking, since the jurisdictional shift would have material implications for litigation risk, trading access, and institutional adoption of crypto assets.