The UK recently conducted a consultation about its Digital Securities Sandbox (DSS), which eases legal requirements for central securities depositories. The aim is to enable tokenization initiatives to issue, trade and settle digital securities. One of the surprising respondents was Hester Peirce, the SEC Commissioner. She proposes that the UK and US consider conducting an international sandbox together. However, she acknowledged that she doesn’t necessarily have the backing of the Commission and this proposal isn’t as immediately actionable compared to other UK consultation responsess.
Currently, the DSS is restricted to UK firms, but Commissioner Peirce suggests expanding that to US companies.
Her proposal makes a lot of sense because one of tokenization’s distinctive features is that it encourages more global trading and investment. If there’s a technology that demands a multinational sandbox, this is it.
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