Summary
- Paul Atkins, SEC chair, said the U.S. financial market is ready to move on-chain.
- The SEC issued a no-action letter for DTCC's securities tokenization pilot, allowing it to proceed without regulatory risk.
- Atkins said the introduction of on-chain markets will increase predictability, transparency, and efficiency, and that he will also consider an innovation waiver.
Paul Atkins, chair of the U.S. Securities and Exchange Commission (SEC), said, "The U.S. financial market is ready to move on-chain," and added, "The SEC will prioritize innovation and embrace new technology while maintaining the core principle of investor protection."
On the 11th (local time), the SEC's Division of Trading and Markets issued a no-action letter related to a securities tokenization pilot program to the U.S. central securities depository, DTCC. As a result, the securities tokenization demonstration project that DTCC is voluntarily pursuing can proceed without regulatory risk.
Atkins said, "On-chain markets will provide investors with greater predictability, transparency, and efficiency," and emphasized, "As transfers and settlements of securities occur on a blockchain, the very structure of capital markets could change."
He added, "This is only the beginning," and said, "We will also consider introducing an 'innovation waiver' so that markets can transition on-chain using new technologies and business models without excessive regulatory burden."
Doohyun Hwang
cow5361@bloomingbit.ioKEEP CALM AND HODL🍀
