SEC’s Crypto Crackdown: What This Game-Changing Shift Means for Your Investments and the Future of Digital Finance
For all the buzz about innovation and disruption coming from crypto and other forms of decentralized finance, SEC commissioner Hester M. Peirce wants the public to remember that tokenized securities are still financial securities. In commentary issued on July 9, Peirce noted that federal securities laws continue to apply to tokenized stock transactions. “As powerful as blockchain technology is, it does not have magical abilities to transform the nature of the underlying asset,” Peirce said.
Coming from one of the most crypto-friendly voices in the world of financial regulation, Peirce’s warning seems notable. Scott H. Kimpel, a partner at the law firm Hunton Andrews Kurth LLP, wrote in a memo that Peirce’s comments showed there are “outer limits” to her highly permissive position on crypto regulation.
Post Comment