SEC Commissioner: Hopes to Establish a Reasonable Regulatory Framework for Token Issuance

At the blockchain forum organized by the Singapore University of Social Sciences (SUSS) on July 30th, financial institution officials from various countries, blockchain experts, and industry members gathered to not only share their views on cryptocurrency regulatory policies but also discuss application scenarios and future trends of blockchain technology.

U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce and Deputy Director Su Hui Tay of the Monetary Authority of Singapore delivered speeches during the event.

Known for her openness to the crypto space, Hester Peirce is often referred to as the "Crypto Mom" by the community. In her keynote speech, Peirce expressed interest in establishing a "non-exclusive safe harbor" for token sales, stating:

Regulators must keep up with market developments and collaborate with foreign counterparts. However, international exchanges and market internationalization do not necessarily lead to the internationalization of our regulations. Regulators should identify which rules are best suited for their investors and markets.

The commissioner voiced concerns that if the U.S. does not take a clear regulatory stance, the country may fall behind other nations in building the cryptocurrency-related industry.

According to reports, Wijitleka Maromefe, Director of Bank of Thailand's Financial Technology Department, pointed out in a discussion on "How Blockchain is Changing Financial System Channels":

Blockchain will have a positive impact on the financial system, and the Bank of Thailand has extensively deployed and used blockchain technology.

Dr. Zhao Yao, a researcher at the Payment and Settlement Research Center of the Chinese Academy of Social Sciences, mentioned the issue of low throughput in blockchain:

Compared to traditional payment systems, existing blockchain technology cannot support highly scalable payment systems. However, we can expect blockchain to be widely used in post-transaction processes, such as settlement.

Most participants noted that the current regulatory framework is in a gray area, leading to increased regulatory costs. Maomao Hu, Partner at Eigen Capital, believes:

In the U.S., due to the strict, expensive, and time-consuming project reviews carried out by different state and federal governments, operating costs have increased. However, blockchain innovation is rapidly evolving.

Attendees also discussed some of the regulatory environments facing token issuance and compliance with Security Token Offerings (STOs).

Taiwanese legislator Jason Hsu pointed out:

Compared to regulations in other countries, Taiwan's policies are more favorable for issuing cryptocurrencies, allowing qualified investors to legally invest in Security Token Offerings through exemption policies.

Dr. Caroline Lim, Senior Lecturer at the SUSS Business School of Singapore University of Social Sciences (SUSS), provided simple investment tips for "retail investors," suggesting that token models in whitepapers should be easy to understand. Individuals should also reduce speculation and enhance their understanding of blockchain and token economics through continuous self-learning.

Related Articles

• Ripple Escrows Another 1 Billion XRP
• Bitcoin Historical Total Transaction Fees Set to Surpass $1 Billion

Join now to receive the most comprehensive Fintech information, Blockchain insights, and industry examples!