As US regulators clear the way for tokenized real-world assets (RWAs), tokenization specialist Ondo Finance’s native cryptocurrency took off on Monday as the US Securities and Exchange Commission concluded an investigation into the platform.
In an X post, the Ondo team said it closed a “confidential” investigation that began in 2024 under former SEC leadership led by Gary Gensler without any charges being filed.
An Ondo spokesperson told CoinDesk that the regulator’s investigation centered on whether Ondo’s tokenization of certain real-world assets complies with federal securities laws and whether ONDO tokens are securities.
“The investigation has concluded and the issue of excessive Ondo and securities tokenization is over, with openness and a clear path forward towards securities tokenization,” the spokesperson added.
of Ondo$0.4844 The token soared on the news, rising just under 6% in the past 24 hours.
Regulatory pressure on digital assets and crypto protocols has eased significantly with Donald Trump’s return to the White House compared to the previous administration, which was often viewed as hostile by industry insiders. New SEC Chairman Paul Atkins has touted tokenization as an important innovation in capital markets, saying in an interview on FOX Business last week that tokenization has the potential to change the financial system in the coming years.
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