The US Securities and Exchange Commission (SEC) is open to facilitating the tokenisation of exchange traded funds, its chair has claimed.
Jay Clayton said yesterday the US securities regulator had been working with various other financial regulators to determine who would facilitate the regulation of financial cryptocurrency products.
At a conference organised by the US Chamber of Digital Commerce, Clayton said it was the SEC that should drive the ‘tokenisation' of ETFs, adding that it was, in fact, "willing to drive that."
Clayton said: "Our door is wide open - if you want to tokenise the ETF product in a way that adds efficiency, we want to meet with you and we want to facilitate that. Of course you have to register it and do what you would do with any other ETF."
Tokenisation would allow a designated cryptocurrency asset to represent a single security, including ETFs.