U.S. SEC Formalizes Acceptance of 'On-chain Finance' Into the Mainstream [Crypto Briefing]

[Financial News] The U.S. Securities and Exchange Commission (SEC) has outlined a direction to overhaul on-chain finance based on distributed ledger technology (DLT), viewing blockchain and virtual assets as tools for capital market infrastructure. As the United States makes clear its intention to bring on-chain finance into the mainstream, calls are growing for South Korea to speed up efforts to refine rules for security token offerings (STO) and real-world asset tokenization (RWA).
According to foreign media and industry sources on the 18th, the SEC's released Draft Strategic Plan for Fiscal Years 2026-2030 includes a pledge to provide a reasonable and consistent regulatory framework for digital assets and DLT. The plan aims to treat tokenized securities issuance and on-chain financial infrastructure as channels for capital formation, while establishing a supervisory system based on investor protection and market integrity.
A key feature of the draft strategy released under Paul Atkins' leadership at the SEC is its departure from the previous approach of regulation by enforcement, with greater emphasis on clear rules and communication with market participants. Through its strategic goals, the SEC said capital markets are undergoing structural change driven by new technologies and alternative trading platforms, and it assessed that digital assets and DLT are affecting capital raising and securities trading methods.
The SEC said it will clarify the boundaries for when securities laws apply to digital assets and support compliant capital formation through tokenized issuance as well as the development of on-chain financial infrastructure. It also said virtual asset custody, trading, and staking services should be allowed to operate under appropriate supervision without overlapping or conflicting regulations. The agency also included the need to clarify jurisdiction between the SEC and the Commodity Futures Trading Commission (CFTC).
As Nasdaq and others build frameworks to ensure tokenized securities are traded under the same rights, surveillance, and settlement systems as traditional securities, the Real-World Asset Tokenization Market is estimated at about $31.5 billion.
Unlike the United States, discussions on institutionalizing virtual assets and RWA in South Korea are lagging. In response, some financial institutions are indirectly securing related capabilities through partnerships or equity investments with virtual asset service providers (VASP), technology platforms, and overseas infrastructure companies.
Experts say domestic financial institutions should secure specific infrastructure positions across the value chain, not only in asset tokenization issuance but also in custody, settlement, and reserve verification. An industry official said, "The SEC's new draft strategy sends a policy signal that virtual assets will be handled within the infrastructure of capital markets," adding, "South Korea also needs to speed up institutional reforms, including allowing corporate accounts, establishing custody guidelines aligned with global standards, and building a distribution system for tokenized securities."

elikim@fnnews.com Kim Mi-hee Reporter