US SEC Commissioner: Securities Tokenization Can Provide "Security, Transparency and Immutability"

Odaily Odaily News According to cryptoslate, Mark Uyeda, a member of the U.S. Securities and Exchange Commission, acknowledged that asset tokenization, including the tokenization of securities, has potential benefits. Uyeda said on June 14 that representing asset rights with digital tokens on the blockchain can provide "security, transparency and immutability." In addition, he said that tokenization eliminates the need for intermediaries, thereby simplifying transactions and reducing transaction costs. Uyeda called tokenization part of a wider technological advancement, noting: "New technologies and innovations may provide further efficiency for our global markets and investors." Meanwhile, the Bank for International Settlements recently announced that tokenization and central bank digital currencies (CBDCs) are areas of focus for regulators in 2024. Global consulting firm Roland Berger said in October 2023 that the $300 billion tokenization market could reach $10 trillion by 2030.