SEC Chairman Paul Atkins: A federal crypto framework is urgently needed, SEC and CFTC collaborate to advance federal legislation Atkins stated that establishing a federal regulatory framework for the crypto market has long been overdue. He believes that no action can fundamentally provide more forward-looking assurance for the rules system than market structure legislation. Meanwhile, the SEC and CFTC plan to build a bridge for legislation through the joint 'Project Crypto' and will explore creating a token classification system to provide clear regulatory obligation guidelines for investors and innovators.