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SEC Considers Innovation Path for Asset Tokenization Post-GENIUS Act
The United States Securities and Exchange Commission (SEC) Chair Paul Atkins has emphasized the need to develop a tokenized securities ecosystem as the movement of assets on-chain is inevitable. He also explored the potential impact of the GENIUS Act passage on the financial ecosystem.
Atkins addressed a press event, stating that the SEC could leverage multiple passages to initiate industry-friendly initiatives. The Commission is exploring different approaches, including an innovation exemption, to encourage asset tokenization within its regulatory framework significantly. This is expected to enable new trading methods and provide targeted relief to support the growth of the tokenized securities ecosystem.
Furthermore, Atkins acknowledged that the movement of assets on-chain is inevitable; therefore, it’s essential to accept this reality. If something can be tokenized, it will be tokenized.
He also touched upon the passage of the GENIUS Act, Digital Asset Market Clarity (CLARITY) Act, and the Anti-CBDC Surveillance State Act, which was comprehensively covered in an earlier report.
It is worth noting that since taking office, Chair Atkins has been more lenient than his predecessor, Gary Gensler. The Atkins administration has advocated for more formal actions including issuing staff guidance to provide clarity on distributions and assets that do not breach federal securities laws.
Source: www.crypto-news-flash.com
