Securitize CEO Advocates for Clearer Crypto Regulation and Expanded SPBD Privileges
CryptoNewsTerminal Staff05 Jun, 2024
Securitize CEO Advocates for Clearer Crypto Regulation and Expanded SPBD Privileges
Carlos Domingo, CEO of Securitize, recently addressed the U.S. House Financial Services Subcommittee on Digital Assets, emphasizing the urgent need for clearer regulation in the crypto industry. Domingo highlighted the importance of expanding privileges for Special Purpose Broker-Dealers (SPBDs). According to Domingo, the current lack of regulatory clarity creates obstacles in understanding and regulating tokenized securities. He also expressed dissatisfaction with the current framework for SPBDs, describing it as "unsatisfactory, difficult to achieve, and limited in scope and time." To facilitate efficient on-chain trading of securities and cash, Domingo proposed that SPBDs should be permitted to hold stablecoins as settlement currency, which is currently prohibited. By addressing these regulatory gaps, Domingo believes that the crypto industry can move forward with greater clarity and efficiency.
