Search results for Hester Peirce
Crypto
JPMorgan says tokenisation to reshape fund industry, meaningful use cases still years away
JPMorgan expects tokenisation to drive change across the broader fund industry beyond exchange-traded funds, it said. Searen Fitzpatrick (시어런 피츠패트릭), global head of ETF products at JPMorgan Securities Services, said ETF tokenisation experiments are ongoing. She cited improved subscription and redemption processes, near-instant settlement and 24-hour access as key benefits. Fitzpatrick said tokenisation will become part of the ETF ecosystem, but meaningful, usable applications are still several years away.
Crypto
Why the U.S. SEC chose rulemaking over enforcement
The U.S. Securities and Exchange Commission has sharply shifted its approach toward crypto firms during Chair Paul Atkins\' first year in office, moving away from enforcement. The SEC has halted civil actions and investigations, approved multiple crypto-linked exchange-traded funds and expanded regulatory coordination, including with the CFTC. Atkins said the agency delivered major progress and moved past enforcement-led regulation. Democrats have criticised the SEC and Atkins over conflict-of-interest concerns, while regulatory uncertainty persists pending passage of the Clarity Act.
Crypto
U.S. SEC issues guidance exempting crypto wallets from broker registration
The U.S. Securities and Exchange Commission issued an interpretation easing the regulatory scope for crypto trading interfaces based on self-custody wallets. SEC staff said software interfaces that support users’ crypto securities trades initiated directly on blockchain protocols may be conditionally excluded from broker-dealer registration. The SEC said the exemption could apply if the service does not connect counterparties or influence investment decisions, and does not induce specific trades or comment on trading routes. The guidance is a staff statement with limited legal force.
