The U.S. Securities and Exchange Commission (SEC) has made a transition by starting to collaborate with the Blockchain sector rather than just imposing control measures.
The SEC recently held a private meeting with several organizations supporting Ethereum to discuss Blockchain standards for developing legally compliant Token securities in the United States, marking a rare openness from this regulatory body.
MAIN CONTENT
The SEC shows a positive attitude, proactively listening to Blockchain solutions that meet regulations.
The ERC-3643 Token standard along with Chainlink's ACE toolkit provides an effective management solution for Token securities.
The SEC Chairman asserts that the future belongs to Token securities and is researching innovation exemptions.
Is the SEC really open to Blockchain standards in Token securities?
Representatives of the ERC-3643 Association confirm that this is the first time the SEC has shown a cooperative attitude, helping the United States lead in Token securities.
Dennis O’Connell – President of the ERC-3643 Association – stated that after many years of perseverance, the SEC has finally begun to actively accept and embrace open standards, creating a bridge between cryptocurrency and traditional legal regulations. This is a positive signal to help develop the Token securities market in the United States.
“The SEC working group is very open, proactive, and determined to make the United States the leading country in this field.”
Dennis O’Connell, President of the ERC-3643 Association, 2024
What distinguishes the ERC-3643 standard from ordinary Ethereum Tokens?
ERC-3643 is the only Token standard specifically designed for regulated securities markets, pre-integrated with controls for identity, access, and legal compliance.
This standard, combined with the Automated Compliance Engine (ACE) from Chainlink, helps automate compliance checks with securities and real assets, ensuring an efficient process without hindering innovation. This solution is seen by many experts as pivotal in bringing Token securities into the mainstream market.
Will the SEC agree to or issue new regulations regarding Token securities after the meeting?
Although there has been no official commitment yet, the meeting marked a significant step forward in the dialogue between Blockchain developers and regulators.
After months of quiet work, all parties seem optimistic about the possibility of completing a legal framework to support compliant cryptocurrency in the near future.
“This meeting is a significant turning point for the Token securities industry.”
Dennis O’Connell, President of the ERC-3643 Association, 2024
What does SEC Chairman Paul Atkins say about the future of Token securities?
Paul Atkins, SEC Chairman, shared that the agency is considering “innovation exemptions” to test new Token securities trading models, affirming that the trend of Tokenization is inevitable.
He emphasized: “If it can be Tokenized, then it definitely will be Tokenized.” This statement clarifies the long-term shift of SEC policy towards cryptocurrency and digital assets.
Frequently Asked Questions
What is ERC-3643 and why is it important?
ERC-3643 is a Token standard designed for the regulated securities market, featuring identity control and legal compliance, helping to connect Blockchain with traditional regulations.
Does the SEC accept Token securities?
The SEC is expanding dialogue and considering Tokenization solutions but has not issued specific regulations, showing a more positive direction towards cryptocurrency.
How does Chainlink's ACE toolkit work?
ACE automatically checks and maintains compliance for tokenized assets, helping to minimize legal risks during trading and storage.
What will the future of Token securities in the United States look like?
Based on the SEC Chairman's statements, Token securities will be a major trend, and the United States is preparing for a legal mechanism to support innovation and sustainable development.
What should cryptocurrency investors watch for from the SEC?
Investors need to update new Token standards and SEC policies to understand the legal framework and minimize legal risks when investing or developing cryptocurrency projects.
Source: https://tintucbitcoin.com/ethereum-dam-phan-sec-ve-token-hoa/
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