SEC leaders seek clarity on tokenized securities at ETHDenver
Senior U.S. Securities and Exchange Commission figures Paul Atkins and Hester Peirce said Wednesday they would support efforts to clarify how tokenized securities align with existing regulations, aiming to provide clearer guidance for industry developers.
Speaking at the ETHDenver conference on the future of regulation, Atkins and Peirce addressed concerns over recent cryptocurrency volatility and outlined the agency’s approach to digital asset oversight as Congress weighs a potential market structure bill.
Responding to “falling crypto prices of late,” a reference to Bitcoin (BTC) and Ether (ETH) declining by more than 28% and 40%, respectively, over the previous 30 days, Atkins said: “As regulators, the best thing we can do is to ensure that the rules governing the asset classes we regulate enable people to have the information they need to express their market sentiments through decisions about whether to buy, sell, or hold the assets at issue.”
Neither official directly addressed the prospects for market structure legislation, though Peirce said the SEC had “provided technical assistance” on the issue. A bill advancing in the U.S. Senate, known as the CLARITY Act when it passed the House of Representatives in July, could reassign a significant portion of the SEC’s digital asset authority to the Commodity Futures Trading Commission (CFTC).
ETHDenver, held this week in Colorado, is among the largest cryptocurrency events in the United States, drawing developers and industry executives.
CFTC remains understaffed despite Senate-confirmed chair
Michael Selig, confirmed as a commissioner and chair of the CFTC in December, remains the only confirmed leader at an agency designed for five commissioners. As the U.S. Senate reviews provisions in the market structure bill, some lawmakers have advocated for language requiring at least four commissioners to be confirmed before the law takes effect.
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