SEC Explores Regulatory Sandbox for Blockchain Securities

According to PANews, the U.S. Securities and Exchange Commission (SEC) crypto task force recently held discussions with Nasdaq, Plume Network, and Etherealize to address the regulatory framework for public blockchain securities tokenization. The parties proposed establishing a 'regulatory sandbox' pilot program. Nasdaq suggested the creation of a new trading venue, 'ATS-Digital,' to facilitate the listing of digital asset contracts alongside commodity tokens. Plume Network, operating on Arbitrum, advocated for adapting decentralized finance clauses to securities laws. Etherealize called for amendments to transfer agent rules to recognize blockchain as a legitimate shareholder registration system. Industry representatives emphasized the need for clear asset classification, modular rules, and phased testing, while maintaining the SEC's investor protection principles. The task force will evaluate the sandbox model, dedicated trading venues, and proposed rule updates. SEC Commissioner Mark Uyeda has previously expressed support for the regulatory sandbox approach.