Tokenized Assets & Securities - Tokenized assets are similar to ETFs, representing a basket of securities, requiring rules for disclosure and issuance to accommodate tokenization's special features [2] - The industry emphasizes the need for a level playing field and certainty in navigating tokenized securities [2] - The industry anticipates markets will adapt to blockchain trading, ensuring investors get the best price with transparent valuation [3][4] - The industry forsees new forms of securities meshing with existing rules to accommodate open and public pricing [4] - The industry acknowledges the potential for all securities to be tokenized [5] Regulatory Adaptation & Innovation - The SEC is helping the industry adapt rules for immobilizing securities and book entry, similar to the creation of the Depository Trust and Trading Corporation (DTCC) [7] - The SEC aims to accommodate technological development and innovation, avoiding impediments [8] - The SEC is re-evaluating the Howie test's applicability to digital assets, considering new rules that comply with the law and address the current situation [10][12] - The SEC will consider revoking archaic laws that stifle innovation and entrepreneurship, particularly those not applicable to digital-oriented companies [13][14] - The SEC is working to ensure that declaration forms accommodate the unique aspects of new products, clarifying their purpose and innovation [15] ETF Deliberation - The SEC's postponement of the Truth Social Bitcoin ETF decision is part of the normal internal deliberation process [16] - The SEC cautions that a temporary pause does not necessarily indicate the ultimate outcome for the ETF [16]