Gemini’s Cameron Winklevoss says tokenisation will jailbreak equities — ‘groundbreaking’

Core Viewpoint - The appointment of Paul Atkins as the new SEC chair marks a significant shift towards a more favorable regulatory environment for the crypto industry, with a focus on integrating traditional financial markets with blockchain technology [1][2]. Group 1: Regulatory Changes - Paul Atkins has proposed a series of regulatory changes aimed at facilitating the integration of traditional financial markets with blockchain technology, which includes allowing financial firms to trade crypto commodities, crypto securities, and traditional securities without needing multiple licenses [2][3]. - The initiative, referred to as Project Crypto, is seen as a groundbreaking move that could transform US equity markets by enabling the tokenization of traditional financial assets [1][2]. Group 2: Industry Response - Cameron Winklevoss, co-founder of Gemini, expressed strong support for Atkins, highlighting the positive shift in the SEC's approach towards the crypto industry compared to the previous chair, Gary Gensler, who took a more adversarial stance [1][5]. - Executives from various crypto firms, including BitGo and Dinari, shared enthusiasm for the prospects of tokenizing US stock, with Dinari's Gabriel Otte describing it as the most significant change in the US financial system since the regulations following the Great Depression in 1933 [5]. Group 3: Tokenization Trends - Tokenization, which involves placing traditional financial assets such as stocks, commodities, real estate, and bonds onto blockchains, has emerged as a major trend in the crypto industry this year [3]. - Companies like Robinhood and Kraken have gained attention by launching services that enable customers to trade tokenized shares, indicating a growing interest in this area [4].