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SEC Considers Innovation Path for Asset Tokenization Post-GENIUS Act
The United States Securities and Exchange Commission (SEC) is exploring a new innovation path to support the growth of asset tokenization in the wake of the passage of the GENIUS Act. According to SEC Chair Paul Atkins, embracing this movement could revolutionize the financial infrastructure of the country by reducing costs, improving efficiency, and enhancing transparency and risk mitigation.
Atkins emphasized that if an asset can be tokenized, it will be. He stated that the SEC is actively exploring different approaches, including an innovation exemption, to encourage asset tokenization within its regulatory framework. This move could lead to new trading methods and unlock targeted relief for the development of a tokenized securities ecosystem.
The Chairman’s remarks underscore the significance of blockchain technology in fostering greater transparency, accountability, and security within financial transactions. The potential benefits are significant as it may significantly reduce transaction costs and enhance risk management practices.
Source: www.crypto-news-flash.com
