A finance industry trade group says tokenized stock offerings shouldn’t get a Securities and Exchange Commission exemption but instead go through the “notice and comment process.”
An industry trade group is urging the US securities regulator to reject a wave of relief requests from crypto companies seeking to offer tokenized stocks.
The Securities Industry and Financial Markets Association (SIFMA), which consists of securities issuers and finance firms, said in a letter on Monday that it has a “significant concern” about reports of crypto firms submitting no-action or exemptive relief to allow them to offer tokenized equities or securities.
No-action relief would mean the SEC wouldn’t recommend taking enforcement action against a firm over products it launches. Exemptive relief allows the SEC to exclude some products from securities laws to test them.
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