The Securities Industry and Financial Markets Association (SIFMA) is urging the SEC to reject secretive exemptions that would enable digital asset companies to launch tokenized equities without public input.
SIFMA asserts that decisions regarding tokenized equities should undergo a transparent process to address regulatory concerns and ensure market integrity.
Concerns have been raised over reports of crypto firms seeking SEC no-action relief to tokenize stocks, bypassing broader industry consultation.
As the SEC explores tokenization and crypto ETFs, there are discussions on creating a new approval system and listing standard, with tensions rising between traditional finance and digital asset strategies.