According to the chair, joint SEC-CFTC ‘Project Crypto’ will provide a regulatory bridge, with token taxonomy, the digital assets while legislation is pending.
The nominee mostly avoided responding to questions that focused on the commission’s limited resources as it attempts to tackle prediction markets and cryptocurrencies.
Traditional custody banks are getting competition from upstarts.
The enforcement actions taken by the SEC against cryptocurrency actors are justified under existing law, the SEC chairman said at a conference.
Several money managers now offer tokenized funds to investors, while other firms are exploring ways to utilize tokenization for clients.
Reality TV star also agreed not to promote digital tokens for three years for failing to disclose promotional payment.
White House provides guidelines that seek to harness the positive aspects of crypto while mitigating its abuse.
Edgar Radjabli is accused of manipulating the securities market for Veritone, among other schemes.