Tim Draper backed the SEC’s Project Crypto, calling it a breakthrough toward an all-bitcoin economy powered by blockchain-based accounting, smart contracts, and tokenized finance.
SEC’s Project Crypto May Realize Tim Draper’s Dream of All-Bitcoin Market Systems
Venture capitalist Tim Draper praised “Project Crypto” on social media platform X on July 31, shortly after U.S. Securities and Exchange Commission (SEC) Chair Paul S. Atkins introduced the initiative during remarks in Washington, D.C. Draper, a longtime proponent of decentralized finance, endorsed the SEC’s direction, stating:
Project Crypto looks awesome! My hopes to raise a fund all in bitcoin, invest it all in bitcoin, and have startups pay all their employees and suppliers in bitcoin, with all the accounting done on the blockchain with smart contracts is in sight.
“Imagine, a full ecosystem with all accounting, auditing, taxes, bookkeeping and ownership transfer done—in software!” Draper added, reflecting growing investor interest in a bitcoin-centric financial system built on blockchain. His comments echo a broader shift among institutional players viewing the SEC’s evolving regulatory approach as an opening to develop a self-contained crypto economy. By supporting onchain accounting, smart contract-enabled auditing and tokenized ownership transfer, Draper underscored a vision of a seamless, software-driven financial infrastructure. The SEC’s plan to streamline securities classifications and enable integrated digital asset services aligns with efforts to eliminate intermediaries and establish crypto-native capital markets.
SEC Chair Atkins announced Project Crypto as a Commission-wide initiative to modernize securities regulations for digital assets and reposition the United States as the global hub for crypto innovation. The project focuses on creating clear rules for classifying crypto assets, enabling on-chain trading of tokenized securities, and supporting decentralized finance (DeFi) systems. It also prioritizes expanded custody options, integrated “super-app” platforms, and streamlined compliance frameworks. By updating outdated regulations and offering innovation exemptions, Project Crypto aims to encourage blockchain-driven market infrastructure and reshore crypto businesses that previously relocated due to regulatory uncertainty. Atkins said:
Congress clearly intended that ‘competitive forces, rather than unnecessary regulation, guide the development of the national market system.’ I will look for ways to bring us back in line with that intent and thereby promote innovation and competition in our markets.
Source: Bitcoin
