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US SEC Chairman Jay Clayton believes all stocks could one-day become tokenized

US SEC Chairman Jay Clayton believes all stocks could one-day become tokenized

Quick take

1 minute read

  • The chairman of the United States securities and exchange commission, Jay Clayton has recently said that all stocks could one day become tokenised.
  • Recently, it seems that the chairman believes strongly in blockchain technology and the power behind it in that all stocks could one day become tokenised in a recent webinar hosted by the chamber of digital commerce at the end of last week.

The chairman of the United States securities and exchange commission, Jay Clayton has recently said that all stocks could one day become tokenised.

Recently, it seems that the chairman believes strongly in blockchain technology and the power behind it, in that all stocks could one day become tokenised in a recent webinar hosted by the chamber of digital commerce at the end of last week.

In the webinar called "Two Sides of the American Coin: Innovation & Regulation of Digital Assets,", the main topic looked into what is necessary to grow blockchain and overall cryptocurrency space. The current acting comptroller of the currency at the Office of the Comptroller of the Currency (OCC), Brian Brooks was also a part of this webinar.

The two discussed innovation within the crypto industry but only if it was regulated. Interestingly, Clayton talked about the current regulatory frameworks in that were sufficient enough for now. 

He further went on to say:

"Our regulatory framework, the principles of our framework, is time tested, and it's been time-tested through many innovations."

Brooks went on to talk about blockchain networks, calling them “fundamentally more resilient and efficient.” For this reason and more, he believes this is why there is a need for a framework that is both safe and sound. 

He further said:

"We have a strong interest in trying to envision a medium-term future, not a tomorrow future where people are speculating on bitcoin price movements, but a medium-term future where these blockchain networks that have been built are basically the internet of finance...are kind of a mind-blowing challenge to the banking model."

You can see the almost two-hour webinar here.

For more news on this and other crypto updates, keep it with CryptoDaily!

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