nine members of Congress wrote a letter asking the SEC to correct its token orientation.
In a letter on Wednesday, December 9, to SEC Chairman Jay Clayton, several members of the Blockchain Group in Congress led by Tom Immer (R- MN) from the commission to check the rules regarding brokers and dealers who can hold digital securities. Broker and dealer license is required to sell securities in the United States.
The letter also addresses the Financial Industry Regulatory Authority (FINRA), a self-regulatory body that registers US brokers and dealers under SEC guidelines. At the moment, the rules are still unclear resulting in massive registration delays.
The Queen Telegraph stated that the letter stated: In the absence of guidance from the Securities and Exchange Commission, the Financial Industry Regulatory Authority has not completely rejected any broker / dealer requests involving safekeeping Digital Stock, which makes applications eligible for appeal. Instead, the Financial Industry Regulatory Authority has allowed applications to be stopped - often for years - or required applicants to withdraw such requests.
Many have noted the discontinued ecosystem of stock tokens in the United States, unlike decentralized digital currencies such as Bitcoin or Ethereum, in which stock tokens are registered as bonds but can be traded in a way. More decentralized thanks to blockchain technology.
Today's speech encouraged the Securities Regulatory Authority to follow the approach of the Currency Comptroller's Office, which this summer agreed that national banks should hold digital currencies.
