30-5-2025 – The United States Securities and Exchange Commission has taken a remarkable step towards regulatory reconciliation with the cryptocurrency industry, convening its Crypto Assets Working Group for substantive discussions with representatives from Payward, Inc. – the corporate entity behind the prominent digital asset exchange Kraken.
This landmark dialogue represents a significant departure from the regulator’s historically combative stance towards the sector, with both parties addressing complex regulatory challenges that have long plagued the American cryptocurrency landscape. The meeting’s ambitious agenda encompassed the thorny issue of traditional asset tokenisation, exploring how established financial instruments might transition onto blockchain platforms whilst maintaining regulatory compliance.
Of particular significance was the working group’s examination of tokenisation promotion strategies employed by other jurisdictions, suggesting American regulators are keenly studying international approaches to digital asset integration. SEC Chairman Paul Atkins has outlined plans to develop a rational regulatory framework for crypto asset markets that establishes clear rules for issuance, custody, and trading, indicating a shift from enforcement-focused strategies to constructive regulatory development.
The discussions delved into the intricate mechanics of “staking as a service” operations, a controversial area that previously resulted in regulatory action against several major platforms. Participants examined various staking models and their potential benefits to the broader ecosystem, reflecting the SEC’s growing recognition that these services represent legitimate financial innovation rather than mere regulatory circumvention.
