SEC officials: tokenized securities must comply with rules

SEC official Hester Peirce stated on Wednesday that putting digital versions of stocks on the blockchain does not mean companies can circumvent US securities laws. Although blockchain technology is powerful, it does not have the magical ability to change the nature of underlying assets, "Pierce said. Tokenized securities are still securities. Companies including Coinbase, Kraken, and Robinhood are considering allowing customers to trade tokens representing stocks on the blockchain, some of which will be listed overseas. Pierce's remarks are noteworthy as she is the chairperson of the agency's cryptocurrency task force and opposes regulation that hinders the growth of the cryptocurrency industry. Pierce stated that companies considering tokenization products should discuss with the US Securities and Exchange Commission, which is "prepared to develop appropriate exemptions and modernized rules.