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SEC Official: Tokenized Securities Must Comply with Regulations
Summary: According to Jinshi Data, Securities and Exchange Commission official Hester Peirce stated on Wednesday that putting digital versions of stocks on the blockchain does not mean companies can bypass US securities laws. Peirce said, 'Although blockchain technology is powerful, it does not have the magical ability to change the nature of the underlying asset.' Companies ...
According to Jinshi Data, Securities and Exchange Commission official Hester Peirce stated on Wednesday that putting digital versions of stocks on the blockchain does not mean companies can bypass US securities laws. Peirce said, 'Although blockchain technology is powerful, it does not have the magical ability to change the nature of the underlying asset.' Companies including Coinbase, Kraken, and Robinhood are considering allowing customers to trade tokens representing stocks on the blockchain, with some products set to be listed overseas. Peirce's remarks are noteworthy as she chairs the SEC's cryptocurrency special working group and opposes regulations that hinder the growth of the crypto industry. She stated that companies considering tokenized products should consult with the SEC, which is 'prepared to develop appropriate exemptions and modernized rules.'
