Crypto industry hails GENIUS Act as a win, while Senator Elizabeth Warren criticizes it for consumer protection gaps.
The US Securities and Exchange Commission (SEC) is considering the creation of an innovation exemption within its regulatory framework to foster tokenization, SEC Chair Paul Atkins said during a press event on Friday, according to Bloomberg.
In the Bloomberg report, Atkins said that the SEC staff was considering changes that would promote tokenization, including an innovation exception that would allow for new trading methods and provide targeted relief to support the development of a tokenized securities ecosystem.
Atkins said the movement of assets onchain is inevitable, stating: “If it can be tokenized, it will be tokenized.” While he acknowledged the uncertainty of the outcome, he was optimistic about the industry’s future.
