The full text is posted on the U.S. Securities and Exchange Commission website at: https://www.sec.gov/newsroom/speeches-statements/uyeda-remarks-asset-management-derivatives-forum-020926
In this context, “tokenization” means representing ownership or claim to an asset (like a Treasury security) as a digital token on a distributed ledger or blockchain—enabling fractional ownership, programmable rights, and potentially faster, automated transfers while preserving the underlying legal rights of the security.
The SEC enforces U.S. federal securities laws that apply to tokenized securities, issues staff guidance on how existing registration, disclosure, custody and trading rules apply to tokenized securities, and regulates market participants (exchanges, broker‑dealers, clearing agencies) that would handle tokenized securities; oversight of the Treasury market’s settlement infrastructure also involves the Treasury Department and the Federal Reserve.
Tokenization can speed and automate settlement (shorter or near‑real‑time settlement), enable fractionalization and 24/7 transferability, and reduce some operational frictions—but it also raises custody and operational risks (who holds legal title, third‑party custody, cyber and interoperability risks), questions about settlement finality and access to central bank money, and thus investor‑protection and legal‑title issues; regulators (including the SEC, central banks and IOSCO) say existing securities laws continue to apply to tokenized instruments.
The metadata record provided does not include the speech text; it does not itself state any regulatory proposals. To confirm whether Commissioner Uyeda announced proposals or recommendations, read the full remarks at the SEC link.