SEC plans 4 more crypto roundtables on trading, custody, tokenization, DeFi

Published

6 days ago

March 26, 2025

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SEC plans 4 more crypto roundtables on trading, custody, tokenization, DeFi

The US Securities and Exchange Commission will host four more crypto roundtables — focusing on crypto trading, custody, tokenization and decentralized finance (DeFi) — after hosting its first crypto roundtable on March 21.

The series of roundtables, organized by the SEC’s Crypto Task Force, will kick off with a discussion on tailoring regulation for crypto trading on April 11, the SEC said in a March 25 statement.

A roundtable on crypto custody will follow on April 25, with another to discuss tokenization and moving assets onchain on May 12. The fourth roundtable in the series will discuss DeFi on June 6.

“The Crypto Task Force roundtables are an opportunity for us to hear a lively discussion among experts about what the regulatory issues are and what the Commission can do to solve them,” said SEC Commissioner Hester Peirce, the task force lead.

The specific agenda and speakers for each roundtable have yet to be disclosed, but all are open for the public to watch online or to attend at the SEC’s headquarters in Washington, DC.

SEC softens on crypto with new leadership

The agency’s Crypto Task Force was launched on Jan. 21 by acting SEC Chair Mark Uyeda. It’s tasked with establishing a workable crypto framework for the agency to use.

The task force held its first roundtable on March 21 with a discussion titled “How We Got Here and How We Get Out — Defining Security Status.”

The SEC will also be hosting a roundtable about AI’s role in the financial industry on March 27, according to a March 25 release.

Join us on March 27 for a roundtable discussion on artificial intelligence in the financial industry. Topics include the risks, benefits, and governance of AI.

More details: https://t.co/ekX2RWp2KQ pic.twitter.com/7fH3j1tlwj

— U.S. Securities and Exchange Commission (@SECGov) March 25, 2025

The roundtable will discuss the risks, benefits, and governance of AI in the financial industry, with Uyeda, Peirce and fellow SEC Commissioner Caroline Crenshaw slated to speak.

Under the Trump administration, the SEC has slowly been walking back its hardline stance toward crypto forged under former SEC Chair Gary Gensler.

The regulator has dismissed a growing number of enforcement actions against crypto firms it launched under Gensler.

Uyeda, who took the reins after Gensler resigned on Jan. 20, flagged plans on March 17 to scrap a rule proposed under the Biden administration that would tighten crypto custody standards for investment advisers.

Uyeda also said in a March 10 speech that he had asked SEC staff for options to abandon part of proposed changes that would expand regulation of alternative trading systems to include crypto firms, requiring them to register as exchanges.

Magazine: SEC’s U-turn on crypto leaves key questions unanswered

Politics

‘Contrary to popular belief,’ regulation isn’t slowing tokenization — Prometheum CEO

Published

4 hours ago

March 31, 2025

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‘Contrary to popular belief,’ regulation isn’t slowing tokenization — Prometheum CEO

The market for tokenized real-world assets (RWAs) is growing by the day, but contrary to belief, the biggest hurdle to broader adoption isn’t regulation, but a lack of dedicated secondary markets for buying and selling tokenized securities, according to Prometheum founder and co-CEO Aaron Kaplan.

In an interview with Cointelegraph, Kaplan drew attention to ARK Invest CEO Cathie Wood’s recent appearance at the Digital Asset Summit in New York, where she said that a lack of regulatory clarity is preventing her company from tokenizing its funds.

“Contrary to popular belief, however, the hurdle isn’t ambiguous regulation,” said Kaplan, who noted that the US Securities and Exchange Commission’s (SEC) special purpose broker-dealer framework and Alternative Trading System (ATS) licensing “already provide a regulated pathway for issuing blockchain-native funds that offer efficiency advantages over traditional issuances.”

“The real bottleneck lies in the limited market infrastructure for delivering tokenized securities trading to a broad investor base,” he said.

Excluding stablecoins, the value of tokenized RWAs has increased by nearly 8% to $19.5 billion over the past 30 days, according to industry data. Private credit and US Treasury debt remain the two largest use cases.

“These assets currently sit on a handful of blockchains, but there is still no fully public secondary market where institutional and retail investors can buy, sell, and trade them, as they do with traditional securities on Nasdaq or through a brokerage account like Fidelity,” said Kaplan, who identified two general approaches for building out these platforms.

The first is building tokenized securities markets using decentralized finance (DeFi) frameworks, much like what Ondo Finance, Ethena Labs and Securitize are doing.

The second approach involves integrating tokenization protocols into existing brokerage platforms that operate under SEC-registered entities and are subject to federal securities laws.

“Legacy crypto and fintech platforms are already accustomed to facilitating cryptocurrency trading, so you would expect them to seek to broaden their offerings to include tokenized securities,” said Kaplan.

While many in the latter camp do not operate digitally, they “won’t cede market share without a fight,” said Kaplan. “Many are already investing in their own tokenization initiatives, or partnering with fintech and crypto firms, to remain competitive.”

“What’s at stake is the next wave of users onboarding into the digital asset space […] The question is then, will the brokerage industry enter the digital asset space, or will crypto platforms build the next gen markets for investors to buy and sell digital securities?”

As a digital asset trading and custody firm, Prometheum is attempting to bridge the infrastructure gap by building a full-service digital asset securities marketplace. The company claims that securities traded on Prometheum have reduced fees, faster settlement times and increased efficiency.

Investors want ‘digital native’ versions of assets they’ve always known

Perhaps the biggest demand driver for tokenized assets among traditional investors is that they want to access “digital native versions of all assets, in addition to crypto tokens, through a single ecosystem they are comfortably using […] to meet a range of financial goals,” said Kaplan.

One area where tokenization appears to be gaining traction is in real estate. As Cointelegraph recently reported, luxury and commercial properties are being tokenized all over North America and secondary markets are being established to enable the trading of tokenized shares.

A 2024 report by Boston Consulting Group (BCG) called tokenization a “game-changing blockchain use case in financial services” due to its scalability and near-instant transactions.

According to BCG managing director and senior partner Sean Park, tokenization could boost investors’ annual returns by roughly $100 billion while increasing the revenue streams of financial institutions.

The potential of tokenization has even been flagged by the World Economic Forum in a recent article published by Digital Asset co-founder and CEO Yuvan Rooz.

In the article, Rooz showed that roughly 10% of the $230 trillion global securities market is eligible for use as collateral.

“Tokenization, which improves collateral mobility and capital efficiency, could unlock this untapped capital and optimize intraday liquidity so that funds can be accessed and moved within the same trading day to meet payment and settlement obligations,” said Rooz.

Magazine: Block by block: Blockchain technology is transforming the real estate market

Politics

Sir Keir Starmer says 24,000 people who have ‘no right to be here’ have been returned under Labour

Published

9 hours ago

March 31, 2025

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Sir Keir Starmer says 24,000 people who have 'no right to be here' have been returned under Labour

Sir Keir Starmer has said 24,000 people who “have no right to be here” have been returned since Labour took power as he opened the government’s border security summit.

The prime minister said it was the “highest return rate for eight years”.

Politics latest: UK has been ‘soft touch on migration’, says Starmer

Since Labour took office last July, 29,884 people have been detected crossing the Channel on 542 small boats.

A total of 6,642 people crossed between 1 January to 30 March this year – a 43% increase on the same time last year, when the Conservatives were in power.

Crossings this year passed 5,000 on 21 March, a record compared with the previous seven years since the first crossings in 2018 – and 24% higher than 2024, and 36% higher than 2023.

Interior ministers and law enforcement from more than 40 countries, including the US, Iraq, Vietnam and France, are at the summit at Lancaster House in central London.

Meta, X and TikTok representatives are also there to discuss how to tackle the online promotion of illegal migration.

Sir Keir told the gathering he was “angry” about the scale of illegal immigration around the world as he said it was a “massive driver of global insecurity”.

“The truth is, we can only smash these gangs once and for all if we work together,” he said.

“Because this evil trade, it exploits the cracks between our institutions. It pits nations against one another. It profits from our inability at the political level to come together.”

He said people smuggling should be treated as a global security threat similar to terrorism.

“None of these strategies, as you know, are a silver bullet. I know that,” he told the summit.

“But each of them is another tool, an arsenal that we’re building up to smash the gangs once and for all.”

Analysis: Stop the boats, stop Reform UK

Mhari Aurora

Political correspondent

@MhariAurora

In a speech at the organised immigration crime summit, Sir Keir Starmer pointedly told global delegates there is nothing progressive or compassionate about turning a blind eye to people smuggling.

This is as much a direct challenge to other nations as it is to those in his party who may be uncomfortable with talk of cracking down on illegal migration and making it harder to claim asylum in the UK.

In an effort to front up to the problem, the PM and home secretary both outlined the deep complexities involved in stopping the boats; interrupting supply chains, financial sanctions on gangs and blocking social media content advertising routes to the UK.

Labour’s message? Bear with us, this is harder than it looks.

But, with public patience wearing dangerously thin on small boats crossings after endless promises from Labour and the Conservatives, and with record numbers crossing the Channel – a 43% rise on this time last year – the prime minister knows he has very little time to persuade the public he can deliver.

Senior government sources tell me they are far more worried about Reform UK denting their vote share than they are about the Conservatives – and the PM’s message today indicates just that.

In his speech, Sir Keir twice cited what he called the unfairness of illegal migration: driving down working people’s wages, terms and conditions, and putting valuable public services under strain.

This shift in tone, directly juxtaposing working people with migrants, feels like a subtle yet significant tilt to voters who may be tempted by Nigel Farage’s rhetoric on migration.

However, we may begin to see some Labour MPs fidgeting in their seats as it is sure to make some of them a little uncomfortable.

Sir Keir appears to be marching up the hill the Tories died on. So will this all too familiar hike prove fatal, or will he succeed where Rishi Sunak failed?

And if Sir Keir does succeed and manages to make a significant dent in the number of small boat crossings before the next general election, Reform may not prove to be as lethal an opponent as first thought.

UK has been a ‘soft touch on migration’

The prime minister criticised the previous Conservative government for allowing illegal migration to soar, saying: “For too long the UK has been a soft touch on migration.”

He said a lack of co-ordination between the police and intelligence agencies had been an “open invitation” for people smugglers to send migrants to the UK.

Cooper reveals small boats gang tactics

Home Secretary Yvette Cooper also spoke at the event, where she revealed some of the horrifying tactics used by gangs smuggling people over to the UK in small boats.

She said they place women and children in the middle of the flimsy rigid inflatable boats (RIBs), and when they collapse due to overcrowding, they fold in and crush them.

“All of your countries will have different stories of the way in which the gangs are exploiting people into sexual exploitation, into slave labour, into crime, the way in which the gangs are using new technology,” she said.

She said they were not just using phones and social media to organise crossings, but also drones to spot border patrols.

“It is governments and not gangs who should be deciding who enters our country,” she said.

Sir Keir also hosted a roundtable discussion joined by border security and asylum minister Dame Angela Eagle, Border Security Commander Martin Hewitt and Home Office, Border Force and National Crime Agency officials.

Ministers ‘disappointed’ in small boat numbers

Before the summit, Dame Angela told Wilfred Frost on Sky News Breakfast ministers were “disappointed” in the number of small boat crossings in recent months.

She said one reason was more people were being packed into each boat. She also said smuggler gangs have been allowed to grow “very sophisticated” global networks over many years.

Earlier, Ms Cooper announced £30m funding for “high impact operations” by the Border Security Command (BSC) to tackle supply chains, illicit finances and trafficking routes across Europe, the Western Balkans, Asia and Africa.

An additional £3m will be given to the Crown Prosecution Service (CPS) to increase its capacity to prosecute organised international smugglers and to support the BSC to pursue and arrest those responsible for people smuggling operations.

Politics

Stablecoins, tokenized assets gain as Trump tariffs loom

Published

9 hours ago

March 31, 2025

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Stablecoins, tokenized assets gain as Trump tariffs loom

Cryptocurrency investors are increasingly moving capital into stablecoins and tokenized real-world assets (RWAs) in a bid to avoid volatility ahead of US President Donald Trump’s widely anticipated tariff announcement on April 2.

Increasingly more capital is flowing into stablecoins and the real-world asset (RWA) tokenization sector, which refers to financial products and tangible assets such as real estate and fine art minted on the blockchain.

“Stablecoins and RWAs continue to see steady inflows of capital as safe havens in the current uncertain market,” crypto intelligence platform IntoTheBlock wrote in a March 31 X post.

“However, because these assets reside on-chain, even slight shifts in sentiment can trigger significant price movements, driven by the lower barriers to reallocating capital in real time,” the firm noted.

The flight to safety is mainly attributed to geopolitical tensions and global trade concerns, according to Juan Pellicer, senior research analyst at IntoTheBlock:

“Many investors were expecting economic tailwinds following Trump’s inauguration as president, but increased geopolitical tensions, tariffs and general political uncertainty are making investors more cautious.”

“This is not unreasonable, as even though global growth forecasts remain positive, growth expectations have decreased globally in recent months,” he added.

The prospect of a global trade war has heightened inflation-related concerns, causing a significant decline in both cryptocurrency and traditional equity markets.

Bitcoin (BTC) has fallen 19% and the S&P 500 (SPX) index has fallen over 7% in the two months since Trump announced import tariffs on Chinese goods on Jan. 20, the day of his inauguration as president.

The April 2 announcement is expected to detail reciprocal trade tariffs targeting top US trading partners. The measures aim to reduce the country’s estimated $1.2 trillion goods trade deficit and boost domestic manufacturing.

Investor sentiment pressured by April 2 Trump tariff announcement

Global tariff fears and uncertainty around the upcoming announcement continue to pressure investor sentiment in global markets.

“Risk appetite remains muted amid tariff threats from President Trump and ongoing macro uncertainty,” Iliya Kalchev, dispatch analyst at digital asset investment platform Nexo, told Cointelegraph.

Meanwhile, RWAs reached a new cumulative all-time high of over $17 billion on Feb. 3, and are currently less than 0.5% away from surpassing the $20 billion milestone, according to data from RWA.xyz.

Some industry watchers said that Bitcoin’s lack of upside momentum may drive RWAs to a $50 billion all-time high before the end of 2025, as their increased liquidity will help RWAs attract a significant share of the $450 trillion global asset market.

Magazine: SCB tips $500K BTC, SEC delays Ether ETF options, and more: Hodler’s Digest, Feb. 23 – March 1