Robinhood Submits Proposal To SEC To Regulate Tokenized Assets As Brokerage Firm Seeks To Modernize Wall Street Rules
Commission-free trading firm Robinhood Markets Inc. (NASDAQ:HOOD) proposed a federal framework to the U.S. Securities and Exchange Commission for tokenized real-world assets, according to a report dated Tuesday.
What Happened: Robinhood’s letter, addressed to SEC Chair Paul Atkins and Commissioner Hester Peirce, outlined a plan for a unified national framework for bringing real-world assets on-chain, according to Forbes.
Robinhood’s proposal suggested replacing the current fragmented, state-by-state compliance approach with a unified national framework. The proposal also stated that tokens representing assets, such as equities or government bonds, should be legally equivalent to the underlying asset, not classified as derivatives or synthetic products.
Robinhood also pushed for allowing broker-dealers like itself to custody and trade tokenized assets using existing regulatory guardrails, not separate, uncertain structures.
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