SEC Explores Innovative Pathways for Asset Tokenization Following GENIUS Act Passage

SEC Considers Innovation Path for Asset Tokenization Post-GENIUS Act

The United States Securities and Exchange Commission (SEC) is considering the adoption of a tokenized securities ecosystem following the passage of the GENIUS Act, as expressed by SEC Chair Paul Atkins. This move is expected to create new opportunities in the financial sector while fostering innovation.

In his remarks during a recent press event, Atkins emphasized that the Commission will build on the momentum gained from the successful passage of the aforementioned act to develop industry-friendly initiatives. Notably, this includes exploring innovative approaches to incentivize asset tokenization within its regulatory framework.

One significant aspect is the proposed exemption that would allow for more efficient trading methods and targeted relief in favor of the development of the tokenized securities ecosystem. Furthermore, Atkins reiterated his stance on embracing the inevitable movement of assets onto blockchain platforms, stating that if it can be tokenized, it will be tokenized.

The SEC Chair also touched upon the passage of the Digital Asset Market Clarity (CLARITY) Act and the Anti-CBDC Surveillance State Act. According to him, the enactment of this legislation has the potential to simplify payment systems within the financial ecosystem.

In a recent statement, Ripple CEO Brad Garlinghouse hailed the historic moment for Financial Technology and digital assets brought about by the GENIUS Act’s passage.

Source: www.crypto-news-flash.com