Catenaa, Saturday, May 10, 2025-The US Securities and Exchange Commission (SEC) is weighing a major policy shift that could loosen regulatory requirements for companies issuing tokenized securities, Commissioner Hester Peirce said Wednesday.
In a speech published May 8, Peirce said the SEC is considering a potential exemptive order allowing blockchain-based firms to issue, trade and settle securities without registering as broker-dealers, exchanges or clearing agencies -roles that have long defined traditional financial intermediaries.
Such a move could mark a dramatic departure from the SEC’s recent enforcement-first stance under previous leadership. “Firms should not have to comply with inapt regulations,” Peirce said, noting that many current rules predate blockchain technologies and may be unnecessary given the transparency and traceability native to decentralized ledgers.
However, any exemption would still require firms to comply with anti-fraud measures, market integrity safeguards, and certain disclosure requirements, she said.
This potential shift follows a broader policy recalibration under newly appointed SEC Chair Paul Atkins. Since his confirmation in April by President Donald Trump, the SEC has narrowed its jurisdictional claims over crypto assets. In recent months, the agency has stated that memecoins and stablecoins -when marketed solely for speculation or payment use -do not constitute securities.
The SEC previously sent Wells notices to platforms like Uniswap, signaling pending enforcement, but did not bring charges. The new direction could bring clarity and breathing room to decentralized finance innovators amid mounting legal uncertainty.
