[US SEC Lists Tokenization as a Key Risk Review Area for Clearing Firms in Fiscal Year 2027 for the First Time] According to a report by Unchained on October 24th, the US Securities and Exchange Commission (SEC), in its latest fiscal year 2027 review priorities document, has for the first time listed tokenization as a high-risk review area for clearing firms. Previous documents for 2025 and 2026 did not mention tokenization. According to the document, the SEC will focus on reviewing clearing firms' risk control measures in areas such as default risk management, recovery and exit mechanisms, securities lending, operations, and tokenization. Furthermore, in the review of the System Compliance and Integrity Regulation (SCI), securities tokenization is also listed as an emerging technology trend, receiving attention alongside superintelligence, extended trading hours, and quantum computing. It is worth noting that the fiscal year 2027 review priorities document does not directly mention cryptocurrencies, digital assets, or stablecoins. The SEC emphasizes that this document is regulatory guidance issued by staff and is not legally binding.