Summary
- Acting SEC Chair Mark Uyeda stated that a short-term regulatory sandbox may be necessary to support corporate innovation.
- The regulatory sandbox is explained to promote innovation through blockchain technology and could be introduced for companies trading tokenized securities.
- Eleanor Terrett reported that regulators should develop guidelines that fit new technologies.
During a roundtable meeting of the U.S. Securities and Exchange Commission (SEC) Cryptocurrency Task Force Team (TFT) on the 11th (local time), Acting SEC Chair Mark Uyeda stated, "A short-term cryptocurrency regulatory sandbox may be necessary to support corporate innovation while a permanent solution for cryptocurrency regulation is being developed."
According to cryptocurrency-focused media outlet CoinDesk, he explained, "While the Commission develops a long-term solution, introducing a short-term regulatory sandbox for registered and unregistered companies trading tokenized securities could lead to greater innovation through blockchain technology."
Regarding the regulatory sandbox, Crypto in America host Eleanor Terrett reported, "There will be a time limit, and ideally, regulators should develop regulations or at least guidelines that fit new technologies during that period."
She also added, "The previous Biden administration could have taken this approach but chose to sue companies that did not comply with regulations."
Meanwhile, the roundtable meeting was the first of four scheduled meetings, focusing on adjusting cryptocurrency trading regulations.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
