U.S. SEC Crypto Working Group Discusses Tokenization of Securities with Nasdaq and DeFi Startups

Comparing news, the US Securities and Exchange Commission (SEC) Cryptographic Task Force met with NASDAQ, Plume Network, and Etherialize last week to focus on the tokenization regulatory framework for public chain securities. All three parties proposed the establishment of a “regulatory sandbox” pilot project: Nasdaq proposed the creation of a new “ATS-Digital” trading venue to support the co-listing of digital asset contracts and commodity tokens; Plume Network (based on Arbitrum) advocates adapting decentralized finance provisions to the securities law; and Etherialize called for revisions to transfer agency rules to recognize the legality of blockchain as a shareholder registration system. Industry representatives called for clear asset classification, adoption of modular rules, and phased testing, but did not question SEC investor protection principles. The working group will evaluate sandbox models, dedicated trading venues, and rule update solutions. Earlier, SEC Commissioner Mark Uyeda had expressed support for the regulatory sandbox mechanism.