According to Odaily Odaily, U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce stated that the regulator is open to companies exploring asset tokenization and new transactional product structures, and encourages relevant institutions to proactively communicate with the SEC.
In an interview with CNBC's "The Exchange," Peirce stated that as the market matures, the SEC hopes that organizations developing innovative financial products—including companies launching tokenized financial instruments—will be able to communicate directly with regulators. "The most important thing is 'Come and talk to us about what you want to do.' We want to work with the industry to give the market the opportunity to test whether there is real demand for these new products."
She pointed out that many asset management institutions are currently exploring how to package crypto assets or blockchain securities into traditional investment vehicles, such as exchange-traded funds (ETFs).
Peirce also addressed the SEC's recent concerns about highly leveraged ETFs. She emphasized that the SEC is not a "value-judgment regulator" and does not decide whether a product is a good investment, but rather ensures that it complies with relevant laws and regulations and fully discloses the risks.
She stated that existing regulations impose certain restrictions on fund leverage levels, but if issuers can prove that the product structure complies with the securities law framework, they may still propose different design options. Currently, as some institutions attempt to launch ETF products with leverage exceeding three times, regulatory attention in this area is increasing.
