The Securities and Exchange Commission (SEC) is preparing to revise the listing rules for ready-to-use utility tokens to make them more appropriate and protect investors, according to the regulator.
With the new rules scheduled to take effect in the second quarter this year, the SEC is giving issuers of ready-to-use utility tokens listed on digital asset exchanges 60 days to comply with the new rules.
The changes were initiated by the SEC in March 2022. The regulator approved the revisions, both for the primary and secondary markets, to ensure they are consistent with the risk profile, development and usage, and include adequate trader protection mechanisms.
The SEC then held a focus group hearing and public hearings between May and June last year.
Nopnuanparn Pavasant,…
