Chainlink CEO Sergey Nazarov met with SEC Chairman Paul Atkins to discuss bringing on-chain assets into compliance with securities laws. Atkins is focused on efficiently integrating blockchain tokenization into the financial system for market safety. Nazarov believes real-world asset tokenization will dominate the industry market cap in the future.

Nazarov is optimistic about blockchain infrastructure integration into broker-dealer and transfer agent rules, potentially enabling full tokenization by mid-next year. The SEC and White House are showing urgency and speed in adapting to blockchain innovations. Atkins is working on legally binding asset transfers and announced the “Project Crypto” initiative.

Under Atkins’ leadership, the SEC has been making crypto-friendly statements and policy maneuvers. The agency recently issued joint statements with the CFTC on spot trading and collaborated on crypto initiatives. Atkins believes existing securities laws provide sufficient authority for favorable crypto policies.

The Senate is developing a bill for crypto market structure and regulations. Progress was made on Friday with a new version of the bill circulating in the Senate Banking Committee. Chainlink’s network was selected by the Department of Commerce to provide major economic data via blockchain, signaling a trend for government agencies.

Nazarov sees a unique opportunity for the industry to solidify its position in the U.S. and global economy. The shift towards blockchain integration in government agencies and regulatory bodies indicates a growing acceptance and adoption of digital assets in traditional finance systems.

Read more at Yahoo Finance: Chainlink CEO Sees Tokenization as Sector’s Rising Future After Meeting SEC’s Atkins