SEC Chief Paul Atkins emphasized the need for regulatory change to accommodate the shift of stocks and bonds onto crypto and blockchains, enabling new ways of trading and ownership.
Atkins highlighted the importance of creating clear paths for token offerings by revising issuance guidelines, proposing new exemptions or safe harbors, and simplifying disclosure requirements.
The SEC is reevaluating custody rules to determine who can act as a 'qualified custodian' and exploring the potential for broker-dealers to host non-security token listings alongside traditional shares.
Atkins introduced a Crypto Task Force to facilitate coordination within the SEC, focusing on issuance, custody, and trading regulations to protect investors and promote innovation in the crypto space.