Jamie Selway, Director of the Division of Trading and Markets at the U.S. SEC, stated that they will rebuild market trust and advance "Project Crypto".

[Jamie Selway, Director of the Division of Trading and Markets of the SEC, stated that they will rebuild market trust and advance “Project Crypto”] Jamie Selway, Director of the Division of Trading and Markets of the U.S. Securities and Exchange Commission, stated at the SIFMA Market Structure Conference that digital assets rely on distributed networks, encryption proofs, consensus mechanisms, and the execution of automated code. Because the operation of such assets does not necessarily involve a single entity or central intermediary, they are often referred to as “trustless” assets. However, trust is the cornerstone of our society and the core value of our industry. Under the leadership of Chairman Atkins, one of the SEC's core focuses is to rebuild trust in the entire market. At the same time, the chairman is also committed to expanding the market scope to include “trustless” digital assets — these assets contain significant innovative potential and room for efficiency improvements. Since this summer, the Trading and Market Department has engaged in extensive communication with various market participants regarding digital asset issues, covering multiple business areas such as primary issuance, secondary trading, and custody. Our goal is to provide advice to the SEC to help achieve “innovation without arbitrage opportunities.” As relevant policies are gradually updated to adapt to the development of digital assets, I believe that neither newcomers nor traditional institutions should be granted additional advantages. We should not interfere with the normal competition among commercial competitors, but rather view market forces as the ultimate arbiters of value.