Mark T. Uyeda, a commissioner of the U.S. Securities and Exchange Commission and former acting chair, stated that the tokenization of securities is moving from concept to practical application. According to reports by Wu, he believes that the SEC should not impose unnecessary regulatory barriers. Uyeda noted that during the Trump administration, the SEC ceased to primarily rely on enforcement as a regulatory approach, instead promoting innovation through guidance, public comments, and exemption pilot programs. Tokenization is expected to reduce intermediaries, compress settlement cycles, and enhance transparency, but tokenized securities must still comply with the existing securities law framework.