“Tokenization of equities… they’re still securities. They’re now in a better technology that’s more efficient.” – 05:56
Caroline D. Pham, Acting Chairman at U.S. CFTC, joins Remy Blaire at the New York Stock Exchange to discuss the implications of this new legislation and two other significant bills currently progressing through Congress: the Clarity Act, which proposes to shift crypto oversight from the SEC to the CFTC, and the Anti-CBDC Act, aimed at preventing the Federal Reserve from launching a U.S. digital currency.
Caroline shares her insights on the recent U.S. Crypto Week and emphasizes the importance of regulatory clarity in fostering innovation and attracting entrepreneurs back to the U.S. She highlights the CFTC’s established jurisdiction over digital commodities, such as Bitcoin and Ether, and outlines the agency’s commitment to ensuring that new entities are registered and compliant with necessary safeguards.
The pair explore the timeline for implementing these regulations, with Caroline noting that the Senate Banking Committee has already released a discussion draft for market structure concerning digital assets. She expresses optimism about the future of tokenized equities, explaining that while these are still considered securities, the technology behind them can enhance efficiency and access in the market.
Lastly, Caroline emphasizes the importance of collaboration among various stakeholders in the financial ecosystem to realize the full potential of blockchain technology.