U.S. lawmakers dig into tokenizing securities as Trump ties muddy waters

The House Financial Services Committee held a hearing on securities tokenization, where lawmakers generally agreed that tokenized securities require the same regulatory guardrails as traditional securities, aligning with the stance of SEC Chairman Paul Atkins. Key concerns raised by Democrats included anonymous wallets, KYC issues, and the gamification of trading due to increased speed. Industry representatives, like the Blockchain Association CEO, advocated for an iterative regulatory approach that distinguishes between intermediary functions and user-directed infrastructure. While the Senate works on the Digital Asset Market Clarity Act, the industry is already building tokenization platforms, supported by figures like BlackRock's Larry Fink who see it as updating financial system plumbing. However, the hearing was complicated by discussions of the Trump family's alleged financial ties to crypto businesses, which critics argue casts a shadow over the legitimacy of moving forward with related legislation.

(Source：CoinDesk)