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Association of Industry and Financial Markets of Securities (SIFMA)What represents traditional banks, mediators and publishers of securities, he asked the US Securities (SEC) Refuse the demands of a crypto companies that want to issue tokenized shares Under relaxed rules.
In a Letter sent on June 30 The SIC Working Group for cryptocurrencies, SIFMA expressed concern about companies seeking fast letters without action or exemptions offering shares based in Blockchain.
Sifma claimed that These requirementsIf approved, would allow companies to sell shares “outside the regulatory structure” that provide important protection for investors.
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The group emphasized that an important shift in the issuance and trading of shares should be through the usual process of adopting the rules, which includes public comments.
The letter also pointed out that Traditional companies are already trying to fulfill the standards of publication, custody and management. Allowing the crypto companies to skip these steps would be unfair and could leave customers in danger.
Sifma added that Giving exemptions on multiple platforms could create a confusion and inconsistent supervisionso that each platform could act under its own unique terms.
This return is followed by the comments of the Secretary of the Secretary Secretary, Hester Peirce, who runs a group of digital assets of the Agency. In May, she said SEC “Given the potential exceptional order” to make blockchain systems more easily issued, trade and resolution of shares.
New York lawyer Letitia James recently asked for Congress to make changes in two proposed laws focused on Stablecoins. What did she say? Read the whole story.
After a master’s degree in economics, politics and culture of the East Asia region, Aaron wrote scientific papers by analyzing the differences between Western and collective forms of capitalism in the Era after World War II.
Considering the decade of experience in Fintech industry, Aaron understands all the biggest questions and struggles that cryptocurrency lovers face. He is an avid analyst who deals with the content based on data and facts, as well as the one who speaks to the web3 natives and the newcomer in the industry.
Aaron is a person for everyone and for all related to digital currencies. With a huge passion for Blockchain & Web3 education, Aaron tries to transform the space the way we know it and make it more affordable to complete beginners.
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