저자: 미상 · 외국인
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이 영상(실제로는 CryptoNews 기사 낭독)은 Citadel Securities가 SEC에 토큰화 주식도 기존 상장주식과 동일한 규제를 적용하라고 요구한 서한을 소개한다. 회사는 유사 주식 상품에 최선집행·거래 투명성·공정 접근 등 핵심 투자자 보호를 면제하면 안 된다고 주장하며, 유동성 분절·상대방 위험·ETF/IPO 시장 교란 가능성을 지적한다. 또 Citadel Securities의 암호화폐 거래 진출 검토와 Jim Esposito의 '점점 돌아갈 수 없는 지점' 발언을 전한다. 가격 전망 발언은 포함되지 않는다.
다듬은 글
Ken Griffin's Citadel urges SEC to treat tokenized shares like traditional stocks. Tokenization. As tokenized equities gain traction, Citadel insists they qualify as securities and must follow the same rules as traditional listed stocks. Crypto reporter Shaolini Nagarajin crypto reporter Shaolini Nagarajin about author Shaolini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector author profile share copied last updated July 23rd 2025 why trust krypton krypton has covered the cryptocurrency industry topics since 2017 aiming to provide informative ative insights to our readers.
Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards focusing on factual accuracy and balanced reporting across all areas from cryptocurrencies and blockchain projects to industry events, products, and technological developments.
Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonne. Citadel Securities, the trading giant founded by billionaire Ken Griffin, is calling on the US SEC to hold tokenized equities to the same standards as traditional listed stocks.
In a recent letter submitted to the SEC's crypto task force on July 21st, the firm warned against granting broad exemptions for digital assets that resemble equity securities. The company said it supports innovation in market infrastructure, but drew a sharp line between true technological progress and regulatory arbitrage.
Tokenized securities must achieve success by delivering real innovation and efficiency to market participants rather than through self-serving regulatory arbitrage. Citadel wrote, "Lookalike equities must follow same rules." Citadel tells SEC. Tokenized equities issued on blockchains as alternatives to listed securities have gained momentum.
This rise comes as crypto firms push for more flexible regulatory treatment. However, Citadel argued that these lookalike products still meet the definition of securities. Therefore, it said they must comply with the same rules that govern the national market system. Citadel cautioned the SEC against exempting these products from core investor protections.
These include best execution standards, trade transparency, and fair access provisions. Instead, the firm called for a transparent and deliberative rulemaking process. It added that this process should involve all market participants, including exchanges, issuers, institutional investors, and retail investors, creating shadow markets, risks, fragmenting liquidity.
Citadel says the firm also rejected the idea of allowing these offerings to operate in a regulatory sandbox. It argued that many proposals come from large well-funded entities. According to the firm, these players are attempting to bypass critical safeguards. Therefore, it stated the commission should not allow token purveyors to profit simply by avoiding the commission's time- tested framework.
Further, Citadel said the risks go beyond individual investors. It warned that creating parallel markets for tokenized equities could destabilize the broader equities market. Specifically, it pointed to potential issues like liquidity fragmentation, counterparty risk, and confusion over voting rights and tax treatment.
The letter raised concerns about potential disruptions to the ETF market and IPO pipeline. Citadel also questioned whether tokenized equities might reduce transparency in shareholder bases or dampen shareholder engagement, particularly when voting rights are either absent or detached from ownership incentives.
Firm warns against crossber crypto loopholes. The firm listed several key disclosures it believes should be mandatory before any regulatory relief is granted. These include who is issuing the token, what rights are attached, and how prices are aligned with the underlying equities. Additionally, it urged the SEC to work with the CFTC and foreign regulators to prevent crossber loopholes.
As of June, Citadel Securities was considering entering the crypto trading space. President Jim Espazito has publicly stated that crypto has passed the point of no return. He added that it is now an asset class being taken seriously by institutional investors. The letter signals that while Citadel is open to engaging with crypto markets, it expects regulatory standards to be upheld.
Any regulatory adjustments for blockchain based assets, the firm insisted must be applied across the market, not carved out for a subset of players seeking lighter oversight. Follow us on Google News. Trending news recommended popular crypto topics price predictions. How Tether co-founder William Quigley views crypto regulations in Trump's second term.
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