What is considered to be a transaction in securities depends more on the nature of the agreement than on the asset itself, according to the American commissioner of securities and (sec) Hester Peirce.
Speaking at the Bitcoin 2025 conference in Las Vegas, Nevada, Peirce said that the SEC must develop a framework describing situations in which cryptographic transactions fall under the securities laws. Examples of this could include the cryptocurrency offer to investors as part of an initial public offer (IPO) or to the tokenization of the actions of a company. Peirce told the public:
“Most cryptographic assets as we see them today are probably not themselves titles.
Peirce said it expects more digital assets to be the definition of securities emerge, while assets such as tokenized actions and obligations arise.
Peirce’s remarks are involved in the midst of dry efforts, legislators and the executive branch of the United States government to establish comprehensive cryptography regulations in the United States and prevent the migration of the industry to other jurisdictions.
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Dry towards a complete regulatory reform
The SEC launched the crypto working group on January 21, the day after the inauguration of US President Donald Trump.
Since then, the agency has organized a series of round tables with industry leaders to guide the development of complete cryptography regulations in the United States.
In May, the president of the SEC, Paul Atkins, told Congress that the agency would produce its first detailed report on the regulations of cryptocurrencies in the coming months.
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