In a recent interview, SEC Chair Paul Atkins shared new perspectives on tokenization, characterizing it as an innovation that should be encouraged.
Regulatory Shift in Tokenization
Paul Atkins noted that tokenization has become a crucial direction for the SEC, calling for the support of innovations in the marketplace. He emphasized that the previous approach to regulation through vague norms and 'regulation through enforcement' is over.CITE_W_A: 'My goal is to make things transparent from the regulatory aspect and give people a firm foundation upon which to innovate and come out with new products.'
Impact of Tokenization on the Market
According to a recent Binance Research report, tokenization is becoming a key driver of cryptocurrency adoption. The total value of tokenized assets in the first half of the year surpassed $24 billion, indicating market growth. Private credit and US Treasuries play a significant role in this process.
SEC's Regulatory Achievements
Since Atkins's appointment, there has been progress in cryptocurrency regulation. New guidance on company disclosures related to digital assets was issued in April. The SEC also approved the first crypto ETF linked to Solana, allowing investors to earn yields through staking.
The SEC's shift towards a more progressive approach to tokenization could significantly impact the development of the cryptocurrency market in the US, fostering innovations and attracting investments.
