Chair Paul Atkins proposes a dramatic plan to take markets on-chain, a move that could transform the U.S. financial regulatory environment in regard to blockchain and digital assets.

Paul Atkins, chairman of the U.S. Securities and Exchange Commission, on Thursday announced the launch of “Project Crypto,” a bold and sweeping policy initiative aimed at bringing U.S. financial markets onto the blockchain.

In a new statement, SEC Chairman Paul S. Atkins endorsed the PWG’s crypto policy proposals, describing them as the product of sustained inter-agency efforts and a critical step toward regulatory clarity.