U.S. SEC Commissioner Uyeda: Securities tokenization can provide "security, transparency and immutability"

BlockBeats news, June 16, according to cryptoslate, Mark Uyeda, a member of the U.S. Securities and Exchange Commission, acknowledged that asset tokenization, including the tokenization of securities, has potential benefits. Uyeda said on June 14 that using digital tokens on the blockchain to represent asset rights can provide "security, transparency and immutability."

In addition, he said that tokenization eliminates the need for intermediaries, thereby simplifying transactions and reducing transaction costs. Uyeda called tokenization part of a wider range of technological advances, noting: "New technologies and innovations may provide further efficiency for our global markets and investors."

Meanwhile, the Bank for International Settlements recently announced that tokenization and central bank digital currencies (CBDCs) are areas of focus for regulators in 2024. Global consulting firm Roland Berger said in October 2023 that the $300 billion tokenization market could reach $10 trillion by 2030.