Acting SEC Chair Mark Uyeda Eyes Regulatory Sandbox For Crypto Firms

Mark Uyeda, acting chair of the United States Securities and Exchange Commission, has hinted that the regulator could consider a regulatory ‘sandbox’ for crypto firms looking to offer trading of tokenized securities.

Uyeda made the comments in an opening speech at the SEC’s Crypto Task Force’s second roundtable that focused on crypto trading. 

According to the acting SEC chair, this framework would allow both registered and unregistered exchanges offering tokenized securities. It is a move towards clear regulation, with a federal regulatory framework key to avoiding the need for a “patchwork of state licensing regimes.”

“We should consider whether there may be a more efficient method of regulation,” he noted.

Uyeda sees the potential for those market participants looking to offer both tokenized securities and non-security crypto assets benefiting from this move. If this gets adopted, participants would only need a single SEC license. National securities exchanges will be able to bring registered and unregistered crypto assets to investors.

Having such clarity would mean crypto firms do not have to register for crypto asset trading licenses in fifty different states.

“While the SEC works to develop a long-term solution to address issues in crypto trading regulation, a time-limited, conditional exemptive relief framework for registrants and non-registrants could allow for greater innovation w/ blockchain technology in the US in the near term,” he added.

The SEC is inviting market participants whose products and services allow for trading of tokenized securities to give feedback regarding the application of exemptive relief.

SEC’s latest crypto-friendly move comes amid a broader effort by the Trump administration to bolster the blockchain and crypto industry. 

As well as multiple regulatory bills on stablecoins, there is an executive order for a Bitcoin Strategic Reserve. President Donald Trump has also signed into law a bill that overturns the Internal Revenue Service’s broker rule.

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