Exclusive: SEC sees crypto as 'economic growth engine' says Chainlink co-founder

Core Viewpoint - The U.S. Securities and Exchange Commission (SEC) is adopting a more constructive approach towards digital assets, particularly focusing on tokenization as a source of economic growth [1][2]. Group 1: Regulatory Perception - The SEC's intent is to position the U.S. as the epicenter of digital asset tokenization, reflecting a significant shift in regulatory perception from viewing the industry as a threat to recognizing it as a source of success and economic progress [2][3]. - This change in perception is expected to have global implications, as many countries look to U.S. regulations as a model for their own [3]. Group 2: Benefits of Tokenization - Real-world asset tokenization is identified as the sector most likely to benefit from this regulatory shift, potentially legitimizing the broader cryptocurrency market [3]. Group 3: Challenges to Tokenization - Despite the positive momentum, there are significant challenges to overcome, including issues related to books and records, compliance, and data standards [4][5]. - Current U.S. regulations require ownership records to be maintained in traditional banking systems, which poses a challenge for blockchain adoption [4]. - Compliance obligations such as anti-money laundering checks and investor accreditation also present hurdles, although onboarding processes could be streamlined through on-chain automation [5]. Group 4: Need for Standards - For tokenization to achieve scalability, there is a need for common settlement, compliance, and data standards across institutions, similar to existing standards in the banking and trading sectors [6].