SEC Chair: Considering Launching Cryptocurrency 'Innovation Hub' to Encourage Market Tokenization Efforts

BlockBeats News, July 18th, according to Bloomberg, U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins stated that after the U.S. House of Representatives passed a groundbreaking stablecoin bill earlier this Thursday, the SEC is considering whether to introduce an "Innovation Exemption" to encourage the market to advance the tokenization process.

Speaking at a press conference, he said, "SEC staff are considering other adjustments that could be taken to promote tokenization development within the existing regulatory framework, including establishing an 'Innovation Exemption' to allow for new transaction mechanisms and to facilitate the construction of other key components of the tokenized securities ecosystem through a more targeted form of exemption."