US SEC Commissioner: Some token issuers need to come and have a dialogue with the SEC

U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce stated that certain token issuers need to come and have a dialogue with the SEC. Peirce emphasized that tokenized securities are still securities, and market participants must consider and comply with current securities regulations. She mentioned that tokens that do not provide holders with legal and beneficial ownership of the underlying securities may be a "security-based swap" product, which retail investors cannot trade outside of exchanges. Peirce said the SEC is ready to work with market participants to develop appropriate exemptions and modernized rules. (Crowdfund Insider) [Odaily Planet Daily]