US SEC Chairman: Tokenization innovation exemption may be introduced in the coming weeks

According to The Block, as the U.S. Securities and Exchange Commission (SEC) prepares to launch a tokenized asset innovation exemption program, the U.S. House Financial Services Committee held a hearing on "The Future of Tokenization and Securities: Modernizing Capital Markets" on March 25.

Republican Congressman Andy Barr stated that the tokenization of securities is an inevitable trend, and the U.S. needs to lead this process while protecting investors. Some Democratic lawmakers expressed concerns that the innovation exemption could undermine core securities regulation. SEC Chairman Paul Atkins indicated that the agency will soon seek public input on a range of issues related to future rulemaking, including a proposed innovation exemption that could serve as a regulatory sandbox for on-chain assets. Additionally, according to crypto journalist Eleanor Terrett, Paul Atkins mentioned that the long-awaited tokenization innovation exemption could be introduced in the coming weeks.