SIFMA opposes the rapid approval of on-chain stock trading, while Paradigm responds that a regulatory framework suitable for new technologies should be established.

Gate News bot message, the Securities Industry and Financial Markets Association (SIFMA) recently sent an open letter to the SEC, opposing the accelerated approval of on-chain stock and other digital securities trading services through no-objection letters or exemptions, emphasizing that such significant changes require a public consultation process.

Alexander Grieve, Vice President of Government Affairs at Paradigm, responded to this. He stated that SIFMA represents the interests of the traditional securities industry, and its insistence that decentralized platforms adhere to traditional KYC/AML rules is debatable. He pointed out that, while ensuring the prevention of money laundering, a more suitable regulatory framework should be developed for new technologies.

Source: Wu Says