In the Ancient Greek tale of Oedipus, great rewards awaited travelers able to solve difficult riddles, but a powerful sphinx posed the riddles and devoured those who failed to solve them. Similarly, in ancient crypto times, circa 2017, blockchain technology stood to revolutionize finance and other fields. But two challenges stood in the way of this technology enjoying its full potential: (1) securities laws that don’t easily map onto decentralized systems, and (2) a securities regulator hostile to digital assets, which often posed grave risks to those who tried to solve the first challenge.
Today, the sphinx has resolved to be more helpful, but the riddles remain. The Securities and Exchange Commission’s (“SEC”) Crypto Task Force has stated that the agency’s previous regime created “an environment hostile to innovation” and has committed to working with industry participants to craft sensible regulations. While promising, significant challenges remain. U.S. securities law
We współpracy z: https://www.coindesk.com/opinion/2025/04/10/working-through-the-riddles-of-tokenized-securities
