Ripple Labs and Other Pioneers Taking Financial Blockchains Mainstream
Financial innovation is well underway. So is the race among countries to attract the entrepreneurs and investment that will yield practical, timesaving, commercial applications of a diversity of blockchain technologies. Thanks to legislation signed into law a few months ago and a Securities and Exchange Commission (SEC) refreshingly committed to clarifying and optimizing the U.S. regulatory landscape, much of that innovation will take place in the United States. Last month, the SEC introduced “ Project Crypto ,” an initiative aimed at modernizing securities rules to better accommodate on-chain markets and tokenized securities. Its goals include clarifying how securities laws apply to cryptocurrencies, creating space for trading tokenized securities, facilitating the development of custody and intermediation models for trading tokenized assets, and ensuring investor protections. Right on cue , Ripple Labs (a blockchain platform with a digital currency called XRP), DBS (a digit...