SEC’s ‘crypto mom’ says tokenized securities are still securities | The Mighty 790 KFGO
NEW YORK (Reuters) -A top U.S. securities regulator known for her supportive stance on the cryptocurrency industry said on Wednesday that new models for trading securities known as “tokenization” must still meet regulations for other securities.
Hester Peirce, a Republican commissioner on the Securities and Exchange Commission who has been nicknamed “crypto mom,” said in a statement: “As powerful as blockchain technology is, it does not have magical abilities to transform the nature of the underlying asset. Tokenized securities are still securities.”
Tokenizing equities is a process by which shares of a company are converted into a digital token, similar to how cryptocurrencies are traded. Instead of holding the securities…
