Wall Street Transfer Agents Lobby SEC, Warning That Third-Party Tokens Pose Risks to Market Integrity
As the competition to tokenize capital markets heats up, the debate over how stocks should move onto blockchain rails is making its way to U.S. regulators.
The Securities Transfer Association (STA), a trade group representing transfer agents and its members, which include major Wall Street institutions, is urging the Securities and Exchange Commission (SEC) to give preferential treatment to issuer-sponsored tokenized securities compared to tokens issued by intermediary firms as it develops rules for bringing traditional securities onto blockchain rails.
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Wall Street Transfer Agents Lobby SEC, Warning That Third-Party Tokens Pose Risks to Market Integrity
An industry group is urging the SEC to favor issuer-backed tokenized shares over third-party stock tokens, while others call for rules distinguishing issuer-backed, custodial, and synthetic models.