According to a statement on Wednesday issued by SEC Hester ‘Crypto Mom’ PEIRCE, any company that monitors the distinctive securities must speak to the organizers before moving forward. Pierce, who leads the agency’s encryption team, warned that Blockchain does not really change what the origin is. Distinguished stocks are still considered securities under American law.
Pears mention federal rules companies
Based on the reports, the PEIRCE warning came about two weeks after the App Robinhood revealed the disclosure of the special layer – 2 BLOCKCHAIN for the distinctive symbol. Companies urged to scan their plans with SEC employees before obtaining the distinctive codes associated with stocks or money.
“With the same strength, Blockchain technology, it does not have magic capabilities to transform the nature of the basic origins,” Pierce said. She added that the distinctive securities are still securities, and they must follow registration and disclosure rules.
Market monitors see similarities with former SEC president Gary Gensler, who often told the distinguished symbol projects “coming and speaking” if they are offering securities.
Pears did not call for Robinhood by name, but the timing was clear: the company submitted a proposal in May to prepare a framework for the real world’s assets distinguished by the US bases.
Robinhood plans to allow European users to trade distinctive symbols and American federations, including big names such as Apple and S&P 500.
Republicans in the House of Representatives pay clarity to the rules of encryption
Besides SEC, legislators in the US House of Representatives are preparing to vote on the law of clarity of the digital assets market. This draft law will lead to a clear line between what is supervised by the Supreme Education Council and what falls under the commodity futures trading committee.
SEC commissioner 'Crypto Mom' Hester Peirce.
If it is approved, the law may be able to clarify the conditions of “digital goods”, “securities” and “stablecoins”. Supporters say they will give supporters of the distinguished symbol a clearer path and reduce the legal gray areas.
Pierce hinted that the Supreme Education Council is open to updating the old rules. She said: “When the unique aspects of technology technology change to the current rules or when organizational requirements are old or unnecessary, we are ready to work with the market participants to formulate appropriate exemptions and update the rules.”
But until official changes reach, there is still any symbol related to sharing or ETF that needs to meet the same standards as a paper -based guarantee.
Distinguished symbol brings both promise and risks
Distinctive securities can reduce settlement times from two days to nearby and open markets for young investors. However, the risks remain. Buyers must trust their trustees who hold actual assets. If the guardian fails, holders of the distinctive symbol may lose.
Distinctive image from CheesECake LabsThe graph from Tradingview
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