Fidelity Presses SEC Crypto Task Force for On-Chain Settlement Clarity

Fidelity Investments has submitted recommendations to the SEC Crypto Task Force, responding to the agency’s request for information on integrating crypto assets into U.S. market structure. The firm supports the SEC’s proactive approach to fostering innovation while protecting investors and market integrity. A key focus of Fidelity’s recommendations is the need for regulatory clarity around the classification of tokenized securities and the responsibilities of broker-dealers in custody and trading. They emphasize that intermediaries often lack full visibility into the structure of these assets and that consistent treatment of tokenized securities and their underlying assets is crucial.

Fidelity also examined the potential for blockchain-based venues to operate alongside traditional intermediaries, noting the benefits of faster settlement and lower costs. However, they cautioned that oversight gaps remain and encouraged regulators to evaluate frameworks that preserve investor protections while allowing broader market participation. The firm specifically requested confirmation that broker-dealers can support on-chain settlement activity without facing regulatory uncertainty, arguing that clarity is essential for the orderly development of these markets.

Ultimately, Fidelity’s engagement with the SEC aims to shape regulations that enable compliant crypto trading and custody within traditional financial systems, addressing key concerns like token classification and broker-dealer responsibilities to accelerate institutional participation and expand regulated trading infrastructure.

(Source：Bitcoin News)