Plume General Counsel Attends U.S. House Hearing, Calls for Tokenized Securities to Be Incorporated into Existing Regulatory Framework

According to the official blog, Salman Banaei, General Counsel of Plume Network, stated during a hearing held by the U.S. House Financial Services Committee that tokenized securities should not be treated as a completely new asset class, nor do they require entirely new rules or exemptions. He advocated that regulation should be driven by the economic nature and risks of financial products, rather than the technology used. Therefore, targeted amendments to existing regulations should be made to integrate new technological realities into a mature regulatory framework. Salman pointed out that leveraging public blockchains and on-chain compliance tools (such as Plume's built-in protocol-level anti-money laundering screening) can significantly enhance market transparency, reduce costs, and minimize reliance on intermediaries, all while maintaining or even exceeding current regulatory standards. Finally, Salman issued a warning: the global competition for tokenized infrastructure is accelerating, with regions like Hong Kong, Singapore, and the UAE actively positioning themselves. If the U.S. faces regulatory delays due to policy uncertainty, it risks losing its leadership in the digital transformation of global capital markets, allowing this strategic opportunity to flow to foreign competitors with differing geopolitical objectives.