The US Securities and Stock Exchange Committee (SEC) met with industrial players to discuss a symbol standard to support the compatible version and transfer symbolic securities.
SEC encryption work meet With ETHEREUM alignment organizations on Thursday, including the ERC-3643 Association, ChainLink Labs, Ethereum Alliance and Linux Foundation (LF), no central.
During the meeting, Blockchain and SEC supporters explore how open standards such as ERC-3643 and compliance frameworks such as Chainlink (ACE) automatic engine (ACE) can help in blocking the Onchain technology with traditional regulatory requirements.
ERC-3643 is a symbolic standard aimed at becoming the basis for the ETHEREUM capital market. It is supported by the ERC-3643 Association and with the support of companies such as Chainlink. ChainLink Ace is a framework based on the smart nodes of distinctive assets such as securities or real assets (RWAS).
SEC shows openness to industry standards for compliance with Blockchain
SEC showed a noticeable shift in the tone and approach during the meeting, compared to previous years.
“The work team was a welcome, participant and motivation to bring the United States to leadership,” Ocunel told CointeleGraph.
O’Connell said that the Supreme Education Council showed openness to the standards led by the industry during the meeting. He told Cointelegraph that the work squad was not considered before the importance of open standards in Blockchain.
“We have put our condition on the cause, like other industries, including traditional financing, are basic criteria for the development of encryption in the United States and enabling securities to come from Onchin,” Ocunel added.
At the meeting, industry representatives made proposals on all the main elements of the organizational framework of symbolic securities. This included identity, compliance, record and control.
O’Connell Cointelegraph told the work band that has not taken a final position on the distinctive securities. He said they were “open to understanding how to meet new technologies in Blockchain fears about identity, control and compliance.”
O’Connell said that the meeting resulted from months of work behind the scenes, which eventually led to a “great step for this industry.”
He said that the ERC-3643 Association and its partners are planning to continue engaging with the SEC Crypto and other US government agencies, in the hope that the United States will join global organization and ultimately lead to the adoption of Blockchain for capital markets.
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SEC ATKINS chair to enhance the distinctive symbol
The meeting was followed by positive observations from the head of the Supreme Education Council, indicating the support of the distinguished symbol in the United States.
On Friday, Bloomberg reported that the president of SEC Paul Atkins was considering creating an exemption from innovation in his frame to enhance the distinctive symbol.
ATKIN said SEC is considering changes that would enhance the distinctive symbol, including an exception that would allow new trading methods to support the development of symbolic securities.
“If it could be symbolic, it will be special,” said Atkins, with the realization that the movement of assets to Blockchain is inevitable.
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