US SEC Chairman: Most crypto tokens are not securities, ensuring entrepreneurs can raise funds on-chain

"The Digital Currency Working Group is fulfilling this mission through Project Crypto, a comprehensive initiative to update securities rules and regulations to enable markets to operate on-chain. Our priorities are clear and we must ensure the security of crypto assets. Most crypto tokens are not securities, and we will clearly define these boundaries. Entrepreneurs must be able to finance on-chain without facing endless legal uncertainty, and the innovation of “superapp” trading platforms must be allowed to increase the choice of market participants. The platform should be able to provide transactions, lending and pledge services under a single regulatory framework. Investors, consultants and broker-dealers should also have the freedom to choose from in a variety of custodial solutions.

Meanwhile, according to a recent working group report, the Securities and Exchange Commission (SEC) will work with other institutions so that the platform can provide services such as crypto asset trading (whether securities or not) as well as pledges and lending under a single regulatory framework. I think regulators should provide the minimum effective regulatory force needed to protect investors and should not be excessive. We should not let entrepreneurs bear the duplicate rules that only the largest existing businesses can withstand. Help ensure that U.S. companies compete fairly around the world by releasing competition in places and products. "

Disclaimer: The views in this article only represent the author's personal views and do not constitute investment advice of this platform. This platform does not make any guarantees for the accuracy, completeness, originality and timeliness of article information, nor is it liable for any losses caused by the use or trust in article information.