On May 12, 2025, the U.S. Securities and Exchange Commission (SEC) held a roundtable focused on the tokenization of real assets. SEC Chairman Paul Atkins emphasized the need to establish a clear regulatory framework for the issuance, custody, and trading of digital assets. He proposed allowing cryptocurrency companies to register digital assets, both securities and non-securities, and to expand custody options for market participants. Additionally, he suggested that registered broker-dealers be permitted to trade a broader range of products, including cryptocurrencies like Bitcoin and Ethereum. Commissioner Mark Uyeda stressed that innovative technologies benefit from transparent regulation and that tokenization can enhance the efficiency and accessibility of financial markets. Commissioner Caroline Crenshaw expressed skepticism, noting that tokenization must be carefully evaluated to ensure that past mistakes in financial regulation are not repeated. The roundtable also addressed the convergence between traditional and decentralized finance, highlighting the importance of adapting existing regulations to foster innovation without compromising investor protection. This event is part of a series of discussions the SEC is conducting to develop policies that balance the growth of the digital asset sector with market integrity.