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The United States Securities and Exchange Commission (SEC) ended its multi-year investigation into Ondo Finance without recommending any charges after examining whether the US tokenized US Treasury and the company’s ONDO token violated securities laws.
With the stock rising on the agenda of the SEC, the decision provides an opportunity for Ondo to expand its operations across the country.
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SEC quietly closes Ondo case
The US Securities and Exchange Commission (SEC) has noticed A continuous change in its executive position Following the news that he concluded his investigation into the crypto company Ondo Finance.
Although the news became public on Monday, the cancellation happened at the end of last month.
According to reports, the SEC began its investigation in October 2023, led by… Former President Gary GenslerTo assess whether the company has complied with securities laws.
Now, under current chairman Paul Atkins, the SEC has taken a pro-crypto approach. The closure of the Ondo investigation marks his continued decline in a number of high profile cases. The SEC has now added the Ondo investigation To the list of closed casesAlong with those linked to Coinbase, Ripple and Kraken.
The move also shows a growing institutional interest in Asset tokenization capabilities.
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Codification is gaining momentum in Washington
The tokenization of stocks, once viewed with caution by regulators, is now firmly on the SEC’s agenda.
Last week, the SEC’s Investment Committee held a discussion session on how distributed ledgers could enable the modernization of the issuance and trading of public stocks. This was a marked departure from the implement-first attitude of recent years.
This institutional appetite reflects the same momentum seen in the private sector.
The American tokenized safe has become one of the The fastest growing chain asset class. At the same time, the first tokenized stock products began to attract the attention of global investors.
it was ok An early participant in the coding sectoris among the companies that have benefited from this organizational change. Closing the SEC investigation now removes a degree of uncertainty for the company and others who seek to tokenize real assets.
Ondo said in a blog post that the decision allows it to move forward with its plans to expand its operations in the United States, supported by…His purchase of Oasis Proa brokerage firm and ATS.
The company has also decided to host its annual Ondo summit in New York in February. Here, it is expected to demonstrate new tools and products focused on the tokenization of real-world assets.
