SEC Chair Paul Atkins announced plans to explore the creation of an innovation exemption to encourage the tokenization of assets. This statement was made during a press event on Friday.
New SEC Initiatives to Support Tokenization
According to Bloomberg, Atkins mentioned that SEC staff is considering changes that would promote tokenization, including the creation of an innovation exemption to allow for new trading methods and provide targeted relief to support the development of a tokenized securities ecosystem.
Opinions on the GENIUS Act
The passage of the GENIUS Act, which was approved by the House of Representatives, has received a positive response from supporters in the crypto industry. Ethereum developer Eric Conner described this act as 'the clearest signal yet that DeFi is winning the regulatory argument.' However, concerns have been raised by figures like Senator Elizabeth Warren about the bill's insufficient consumer protections and potential risks, such as market manipulation.
SEC's Cautious Approach to Crypto in Pensions
In a Friday interview, Atkins emphasized the importance of disclosure, stating, 'The government should not stand as a blocking agent for those sorts of things, but we need to enable it in the proper way with proper guidelines and proper disclosures.'
The idea of creating an innovation exemption and supporting asset tokenization reflects a potential shift in the SEC's approach to cryptocurrency regulation, though opinions on this issue remain divided.
