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Hester Peirce, a commissioner of the SEC, revealed that the SEC's Cryptocurrency Working Group is researching a potential registration exemption plan that would allow companies to issue, trade, and settle securities using distributed ledger technology (DLT). This plan aims to exempt some SEC registration requirements, supporting companies in using innovative trading systems to handle tokenized securities.
The exemption mechanism comes with strict conditions: the exempt entity must comply with market integrity conditions to prevent fraud and manipulation. Additionally, it may include providing important and relevant information about products, services, operations, conflicts of interest, and risks of the platform; complying with record-keeping and reporting requirements; being subject to oversight and examination by SEC staff; and having sufficient financial resources for operations.
Additional requirements for cryptocurrency custodial service providers may include disclosing custodial arrangements and risks to customers, as well as implementing policies and procedures related to blockchain security and wallets. Restrictions such as limiting the number and type of listed or traded digital securities, or transaction volumes can mitigate risks for investors and the market. The SEC may increase this limit for companies successfully operating under the initial restrictions.
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Source: https://tintucbitcoin.com/sec-hoa-ky-nghien-cuu-mien-dang-ky-chung-khoan-tien-dien-tu/
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