Fidelity Supports Further Crypto Activity Legalization
The world's largest private investment firm Fidelity has appealed to the U.S. Securities and Exchange Commission (SEC) to intensify the regulation of cryptocurrency activities by broker-dealers.
In a letter to the SEC's cryptocurrency task force, Fidelity stated that it supports trading tokenized securities on alternative trading systems, as well as the integration of traditional finance with blockchain.
Experts believe that this is another signal from major financial market players about the need to integrate cryptocurrencies and blockchain technologies into traditional financial processes. With $11 trillion in assets under management, Fidelity is thus advocating for further legalization of cryptocurrency activities within the existing financial institutions.
Moreover, the active participation of leading financial organizations in the development of the crypto market can help the SEC develop more balanced cryptocurrency regulations that take into account the interests of both investors and the industry as a whole.