SEC’s Hester Peirce Gives a “Green Light, With Rules” for Tokenization
Main Idea
SEC Commissioner Hester Peirce advocates for a regulated approach to tokenization, emphasizing that tokenized securities must comply with existing laws while supporting innovation and efficiency through blockchain technology.
Key Points
1. Hester Peirce states that tokenized securities remain subject to existing legal and investor protection requirements, despite being on a blockchain.
2. Peirce highlights the SEC's willingness to collaborate with companies experimenting with tokenization, suggesting a flexible regulatory approach.
3. The SEC's Crypto Task Force, led by Peirce, aims to modernize regulations to provide clarity and adapt oversight for tokenization and other crypto-related innovations.
4. Tokenization is seen as a way to improve efficiency and transparency in financial systems, though regulatory uncertainty has been a significant barrier.
5. Peirce has also expressed openness to other crypto-related products, such as ETFs, indicating a broader regulatory consideration for the crypto industry.
Description
Hester Peirce supports market-led tokenization models but insists on compliance with U.S. securities law. Tokenized assets must follow disclosure rules and cannot bypass legal requirements. The SEC will use existing authority to guide crypto and tokenization oversight without waiting for new legislation. SEC Commissioner Hester Peirce stated that the market, not regulators, should determine which tokenization models succeed. In an interview on August 12, she said the SEC is open to working with ...
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