SEC Chair Atkins Eyes Blockchain-Based Stock Market

Paul Atkins, chair of the U.S. Securities and Exchange Commission (SEC), has expressed his intention to shift the stock market to a blockchain-based on-chain framework. Speaking on CNBC's 'Squawk Box', Atkins said he wants the stock market to move on-chain.

Moving the stock market on-chain means using blockchain technology in the issuance, trading, settlement and clearing of traditional financial assets such as stocks. This is a significant development as it suggests U.S. financial regulators are actively considering how to apply blockchain technology to traditional capital markets.

Atkins' remarks show that he wants to leverage blockchain's potential for increased efficiency and transparency in the stock market.