Building in the sandbox 👷

The SEC is weighing whether to introduce a "regulatory sandbox" to let crypto exchanges experiment with tokenized securities and more.

Author

Andrew Hayward
April 12, 2025

📝 What you need to know

After President Trump’s SEC Chair pick Paul Atkins was confirmed by the Senate and the regulator moved to dismiss (or soon dismiss) even more cases against crypto firms, the Securities and Exchange Commission ended the week with one more potentially positive development for U.S. companies.

On Friday, at the agency’s second-ever digital assets roundtable, SEC leadership suggested that a so-called regulatory sandbox could be created to let crypto exchanges experiment in novel sectors—including the possibility of offering tokenized securities like stocks and bonds.

“Participating firms could see what works and what doesn’t, technically and commercially,” said SEC Commissioner Hester Peirce, who leads the regulator's crypto task force. “Such trials could inform the Commission’s rulemaking efforts.”

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