The U.S. Securities and Exchange Commission on 3 August unveiled “Project Crypto,” an agency-wide effort to rewrite securities rules for digital assets. SEC Chair Paul Atkins said the initiative will modernise regulations on issuance, custody and trading, and will consider unified licences, exemptions for early-stage token projects and the right of investors to self-custody. The move follows White House recommendations that regulators use existing authority to shift markets “on-chain” and aligns with President Donald Trump’s goal of making the United States a global hub for cryptocurrencies. Less than 24 hours later, the Commodity Futures Trading Commission announced “Crypto Sprint,” a fast-track programme designed to implement the same policy roadmap in coordination with the SEC. Acting CFTC officials said staff will work with their SEC counterparts to deliver a common set of rules, giving priority to Trump-era Executive Orders 14178 and 14233, which call for clear digital-asset standards and a strategic federal reserve of bitcoin. Market observers say the parallel initiatives could reshape Wall Street by blurring the traditional line between securities and commodities and by accelerating the migration of trading infrastructure to blockchain. They build on a series of recent crypto-friendly steps, including the approval of spot bitcoin and ether exchange-traded funds and enactment of the GENIUS stablecoin law. Neither agency provided a definitive timetable, but the CFTC described the effort as a “sprint,” signalling an aggressive push to deliver draft rules in the coming months.