Blockchain technology can enable “a broad SWATH of novel use cases for security” and promote “new types of market activities that are not considered by the Commission’s rules and regulations today,” Chairman of the Securities and Exchange Commission (SEC) Paul Atkins Says.
During his keynote address in the May 12 rotation of the tokenization commission and digital assets, Atkins accepted “a new day in the SEC,” adding that “policy making will no longer result from actions that implemented the HOC. Instead, the commission will use existing standards, market participants.
A top priority is to “develop a rational framework of regulation for crypto asset markets that establishes clear road policies for releasing, preserving, and trading crypto assets as evil actors continue to disturb the law from breaking the law.”
In particular, Atkins said the SEC would focus on establishing “clear and intelligent guidelines” for crypto possessions that could be considered security. Another area of focus is to allow brokers to offer a wider range of investment products on their platforms, which in some cases can mix security and non-security.
The Atkins approach moves away from former SEC Chair Gary Gensler’s, whose tenure has been criticized by some industry participants for this “Regulation by implementation” Oversight method.
Evolution of security
Atkins likens the tokenization of evolutionary security of audio formats – from vinyl to cassette to digital software – featuring how each shift improved compatibility and interoperability with a wide range of devices and applications. This development eventually provided business -content business models, which he said “consumers and the American economy have benefited greatly.”
Security tokenization is an ongoing topic at the intersection of traditional finances and crypto. Some ownership management companies, such as Blackrock and Franklin Templeton, have already jumped into tokenization by their -they Biddled and Benji tokenized US Treasury Funds. Robinhood is Considering the formation of a blockchain To allow retail investors in Europe to trade tokenize US securities.
Tokenized securities can attract interest from companies and brokers due to features such as faster regulating time, decreased reliance on traditional financial infrastructure, and improved access. Tokenization can also help provide liquidity to historical -owned classes.
According to In RWA.xyz, $ 22.6 billion of real-world assets is onchain, a 7.6% increase in the last 30 days. That does not include stablecoins, which are often supported by real-world assets such as Treasury Bills. Stablecoins have A $ 243 billion market capitalization on May 12, according to data from Defillrama. Tether’s USDT (USDT) one has a market cap of $ 150.6 billion.
Magazine: The U-Turn of the SEC in Crypto leaves basic questions that are not answered
