Tokenization · Bloomberg · SEC · The Block
SEC delays tokenized asset exemption amid concerns over third-party tokens: Bloomberg Law
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The Securities and Exchange Commission has delayed its plan for an anticipated exemption that would clarify the agency's stance on tokenized assets, following concerns over third-party issuers, Bloomberg Law reported, citing people familiar with the matter.
Key facts
- The Securities and Exchange Commission has delayed its plan for an anticipated exemption that would clarify the agency's stance on tokenized assets, following concerns over third-party issuers
- The SEC declined a request for comment from The Block
- SEC Chair Paul Atkins has said the agency will soon debut its proposed innovation exemption that could function as a regulatory sandbox for onchain equities
- The SEC has also greenlit several entities to move forward with tokenized securities, including the Depository Trust & Clearing Corporation, which was authorized to tokenize certain highly liquid
Summary
The SEC's staff was slated to release language for an innovation exemption, and a draft of the plan had been created and reviewed, according to the people familiar who spoke with Bloomberg Law. Over the past few days, the SEC staff has held discussions with stock exchange officials and market participants and is weighing their feedback. A concern among several former regulators is guaranteeing that tokenized assets carry the same rights as regulated securities, such as dividends and voting rights. Several crypto-native firms like Securitize, Ondo and Superstate have developed tokenization infrastructure with integrated SEC-registered transfer agent functions that maintain official shareholder records.