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SEC’s Hester Peirce warns that even if digital assets are placed on a blockchain, they still fall under the jurisdiction of existing federal laws and regulations. The head of the US Securities and Exchange Commission’s (SEC) Crypto Task Force emphasized that putting securities on a blockchain does not magically transform their nature.
Ms. Peirce clarified that tokenized shares, notes or entitlements are still considered securities, requiring issuers, intermediaries, and traders to adhere to existing federal law when creating, selling, or transferring them.
Source: cryptoslate.com
