Commissioner Hester Peirce: The tokenization of assets will not be able to reach its full potential without legal clarity. Issuers and transfer agents are still confused about whether the crypto network will be recognized as the official record of securities ownership, according to the regulations in the Securities Exchange Act and related rules.

Although some states have clearer regulations regarding the use of blockchain for managing securities ownership, the lack of synchronization in federal law remains a barrier.

Additionally, according to the SEC's statement on Special Purpose Broker-Dealers, the SEC considers cryptocurrency assets to be securities if they meet the broad definition of "securities", which adds to the legal risks for companies wanting to trade, custody, or issue tokens.

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https://x.com/ThuanCapital/status/1922025321282568192