SEC Chairman: U.S. Financial Markets Set to Transition to the Blockchain, Looking Forward to SEC Considering Innovation Exemption Policy

BlockBeats News, December 12: This morning, SEC Chairman Paul Atkins stated that the U.S. financial market is about to transition to the blockchain. "Under my leadership, the SEC is prioritizing innovation and actively embracing new technologies to realize this on-chain future, while continuing to protect the interests of investors." The on-chain market will bring investors greater predictability, transparency, and efficiency. DTC participants can now directly transfer tokenized securities to other participants' registered wallets, with these trades being tracked in DTC's official records.

Paul Atkins mentioned, "I look forward to the SEC considering an innovation exemption policy, allowing innovators to leverage new technologies and business models to begin our market's transition to the blockchain without being bound by cumbersome regulatory requirements."

In this morning's announcement, the SEC approved DTCC to custody and validate tokenized stocks and RWA assets on-chain.