SEC head on tokenized ETFs: we have a desire to try it

The US Securities and Exchange Commission (SEC) is considering innovative technology in the DeFi space.

The head of the regulator Jay Clayton stressed that he is considering the possibility of tokenizing shares and creating a tokenized ETF. “If you have a desire to demonstrate the process of tokenizing an ETF product in order to increase its efficiency, then we will be happy to discuss this issue with you. We have a desire to try it, ”said Jay Clayton.

Recall that earlier the Commission actively fined developers of such products and blocked applications for the creation of Bitcoin ETFs. For example, the Californian startup Abra had to pay a fine of $ 300,000 and stop offering such products. At the moment, the regulator also warns companies against abuse of registration when developing new solutions. “Don’t pretend it’s a payment system if in fact it’s a financial instrument,” he concluded.