The U.S. Securities and Exchange Commission (SEC) is set to collaborate with the Commodity Futures Trading Commission (CFTC) on Project Crypto, aiming to establish a comprehensive token classification system. SEC Chairman Paul S. Atkins announced the initiative before Congress on February 12, highlighting plans to provide clearer regulatory guidance and consider exemptions for specific on-chain activities. The SEC also supports the CLARITY Act to create a federal framework for digital assets. BiyaPay analysts view this development as a shift from "guesswork" to "structured processes" in the crypto industry, potentially leading to more stable regulatory expectations and reduced market participation costs. BiyaPay, a multi-asset trading wallet, facilitates cross-border remittances, multi-currency exchanges, and trading in U.S. and Hong Kong stocks, while offering spot and contract trading for digital assets with zero maker fees.