Wall Street giants oppose regulatory exemptions for tokenized securities

Foresight News reports that, according to CoinDesk, five Wall Street giants including SIFMA (Securities Industry and Financial Markets Association), Cahill Gordon & Reindel, Citadel, and JPMorgan met with the U.S. Securities and Exchange Commission (SEC) Crypto Task Force this Tuesday. These institutions advocate that tokenized securities should be regulated under existing federal securities laws rather than establishing a separate regulatory framework. During the meeting, they warned that allowing tokenized assets to be traded under more relaxed standards could undermine investor protection and market structure rules. They believe that "tokenization changes the market infrastructure, not the underlying economic substance of securities," and therefore should not be exempt solely because they are traded on the blockchain. Additionally, Wall Street institutions urged the SEC to rely on formal rulemaking procedures rather than informal staff guidance or broad exemptions. This meeting comes as market discussions on DeFi regulation and 24/7 trading heat up, reflecting a consensus between regulators and traditional financial giants that "the essence of tokenized securities remains securities."
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments