On December 7, Paul Atkins, Chairman of the U.S. Securities and Exchange Commission, stated that it is expected the entire U.S. financial market may migrate to blockchain technology supporting Bitcoin and cryptocurrencies within the next two years. In an interview with Fox Business, SEC Chairman Paul Atkins said, “This will not only be a trend for the next 10 years, but could also become a reality in as little as two years. The next step will come with digital assets, market digitization, and tokenization, which will bring ‘tremendous benefits’ for transparency and risk management.” Tokenization refers to the use of tradable blockchain-based tokens to represent stocks and assets, a concept hailed as a potential revolution for financial markets.
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US SEC Chairman: The Entire US Financial Market May Move On-Chain Within Two Years
On December 7, Paul Atkins, Chairman of the U.S. Securities and Exchange Commission, stated that it is expected the entire U.S. financial market may migrate to blockchain technology supporting Bitcoin and cryptocurrencies within the next two years. In an interview with Fox Business, SEC Chairman Paul Atkins said, “This will not only be a trend for the next 10 years, but could also become a reality in as little as two years. The next step will come with digital assets, market digitization, and tokenization, which will bring ‘tremendous benefits’ for transparency and risk management.” Tokenization refers to the use of tradable blockchain-based tokens to represent stocks and assets, a concept hailed as a potential revolution for financial markets.